ritu report

8/2/2019 Ritu Report

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Shri Ram Murti Smarak Womens College of Engineering & Technology,Bareilly (U.P.)

Department of Management Science

Certificate

This is to certify that Ms. Ritu Dixit, a student ofMBA IV Semester has completed her Research Projec

Report titled Employee Benefit Schemes-A Study with selected Hospitals in Bareilly assigned by MBA

Department and under my supervision.

It is further certified that she has personally prepared this report that is the result of her persona

survey/observation. It is of the standard expected to MBA student and hence recommended for evaluation.

Signature of the Supervisor

Mrs.Priyanka D Sharma

(Name of the Supervisor)

Above statement is endorsed.

(Richa murti) Date:Head


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Synopsis of Research Project Report

Submitted by:

Ms. Ritu Dixit, MBA IV Semester, 2011-12 Academic Sessions

Shri Ram Murti Smarak Womens College ofEngineering & Technology, Bareilly

Faculty Guide:

Mrs. Priyanka D Sharma, Faculty of Management Science

Shri Ram Murti Smarak College of Engineering & Technology, Bareilly

Title of the Research Project Report:

Employee Benefit Schemes A Study with selected Hospitals in Bareilly

Introduction:

The research topic Employee Benefit Schemes A Study with selected Hospitals in

Bareilly is the part of academic curriculum in IVth semester which is given by

Department of Management Science. The research study emphasizes on various aspects

like concepts related to employee benefit schemes and how employee benefit schemes is

related to hospitals with reference to Bareilly.

According to, various concepts and literature Employee benefits and benefits in kind are

various non-wage compensations provided to employees in addition to their normal

wages or salaries. Employee Benefit can be defined as, all the benefits which are

monetary or non monetary but not the part of direct salary are called as employee

benefits. These benefits may be financial or non-financial, long term or short term, free

or at concessional rates. They may include educational, residential, medical, or

recreational facilities. Such facilities may be provided individually or collectively and

inside or outside the organization. Thus the employee benefits are the comforts and the

facilities given to employees to enable them to work in a healthy and peaceful

atmosphere. Employee Benefit programs has three main key objectives which vary from


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organization to organization and sector to sector. The key objectives are- to attract the

pool of candidates from outside, to retain their employee through various motivational

activities, to engage from organization employee in various activities. The concept of

hospital is that,an institution that provides medical, surgical, or psychiatric care and

treatment for the sick or the injured.

In this research report, I will study about the various hospitals of Bareilly and its various

employee benefit schemes . In Bareilly, there are number of hospitals, out of that, on the

basis of number of permanent employees, size of hospital, number of patients visited per

day, number of beds in hospital, I will select five hospitals of Bareilly.

Research Objectives:

Within the context of defined research question and to complete this research project

comprehensively, following objectives are defined in my proposed research work.

Objective 1: To study the various Employee Benefit Schemes implemented by

selected hospitals in Bareilly- This objective is to understand the employee benefit

schemes offered by selected hospitals. It is also oriented to understand the mode of

offering of schemes to the employees of the hospitals. This objective in my research

process would be achieved through informal interview with the HR & administrative

employees of selected hospitals as well as from the interpretation of secondary data.

Objective 2: To compare Employee Benefit Schemes offered by selected hospitals in

Bareilly- This objective is defined to understand the comparison between employee

benefit schemes which is offered by selected hospitals. Interview method would be used

to achieve this objective in my proposed research work. During this process I shall beinteracting with the different level of employees who are working in the selected

hospitals in Bareilly. To achieve this objective, I have selected two measures of

effectiveness, i.e. Employee satisfaction and Retention for comparing the Employee

Benefit Schemes offered by selected hospitals.


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Objective 3: To study the Employees satisfaction regarding Employee Benefit

Schemes of selected hospitals in Bareilly- This objective is defined to estimate the level

of satisfaction regarding employee benefit schemes of selected hospitals in Bareilly and

with this objective I will understand that employees of selected hospitals are satisfied or

not with the employee benefit schemes. Here I will use five point likert scale for

comparison and analysis.

Types of Data used: This research work will include Secondary and primary data both.

For the given objectives I will go through the descriptive research and exploratory

research, in this regard I will use primary and secondary data.

Sample design: For primary data, Data will be collected through non-probability

sampling in which I will use convenient sampling.

Secondary data I will go through the hospital web sites, magazines, for the purpose of

being aware about the hospital profile.

Research Tool: To collect the data, interview and survey methods would be used with

questionnaire as an instrument for primary data collection. For secondary data collection

published literatures would be primarily used.

Tools for analysis: Chi-square test, ranking method and different charts, are proposed

to be used in my research work.

Questionnaire :-For this research I am preparing a structured questionnaire which is

covering the research objectives, with the help of my faculty guide.

Sample Size: The sample size of my research work would be 100.

Area: Area of my research work is Bareilly.


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Chapter Schemes:

Chapter 1: Introduction

1.1: Introduction

1.2: Scope of the research work

1.3: Objectives of the study

Chapter 2: Literature Review

2.1: Introduction

2.2: Satisfaction levels with Employee Benefit Schemes

2.3: SWOT analysis

Chapter 3:1: Research Methodology

3.2: Defining research problem

3.3: Sampling design

3.4: Research design

3.5: Method of data collection

3.6: Tool for analysis

Chapter 4.1: Data analysis and interpretation

4.2: Finding

4.3: Limitation

4.4: conclusion

4.5: Recommendation

Chapter 5: Conclusion & Suggestions

Annexures


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Annexure 1: Bibliography

Annexure 2: Questionnaire

Annexure 3: Other documents

Ritu Dixit

Date:

Place:


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Chapter 1

Introduction

1.1: Introduction

Companies provide their employees and workers with a variety of benefits. These benefits arebasically forms of value or services that are provided by an employer to his employees for their

contribution in the performance of the organization. Such benefits are an important component

of a company's remuneration package for attracting and retaining its employees. The benefits

serve as incentives to the employees and encourage them to work harder for the organization

These also help in building up employee job satisfaction.

These benefits may be financial or non-financial, long term or short term, free or at concessional

rates. They may include educational, residential, medical, or recreational facilities. Such

facilities may be provided individually or collectively and inside or outside the organization.

Thus the employee benefits are the comforts and the facilities given to employees to enable

them to work in a healthy and peaceful atmosphere.

The employee benefits of a company generally includes:- (i) A remunerative wage structure

which motivates the employees to contribute their maximum worth to the enterprise; (ii) bonus

to the employees either on festive occasions or as a reward for their contribution in the high

performance of the firm; (iii) Social security benefits for employee welfare in the form of

provident fund, gratuity, medical facilities, compensation and insurance policies; (iv) different

types and number of leaves so that the employees may revitalize themselves and contribute their

best effort to the organization; (v) employees who wish to voluntarily retire from an

organization are provided with several benefits under the voluntary retirement scheme.

Given the various types of employee benefits, a firm may design, administer and manage a

comprehensive benefit package for its employees depending on its work culture and

organizational set up. The employee benefits package may include the following:- Wages,

Voluntary Retirement Scheme(VRS), Bonus, Leave, Social Security.

Wages:-Wages refers to the total pay package which an employee receives on a periodic basis

A healthy, competent and devoted work force is the most precious asset of a successful


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organization. In order to obtain, retain and develop such workforce or employees, it is necessary

that they are suitably rewarded for their services. A remunerative wage structure is the

dominating force, which motivates employees to contribute their maximum worth to the

enterprise.

Voluntary Retirement Scheme (VRS):-

In the present globalised scenario, right sizing of themanpower employed in an organization has become an important management strategy in order

to meet the increased competition. The voluntary retirement scheme (VRS) is the most humane

technique to provide overall reduction in the existing strength of the employees. It is a technique

used by companies for trimming the workforce employed in the industrial unit. It is now a

commonly method used to dispense off the excess manpower and thus improve the performance

of the organization. It is a generous, tax-free severance payment to persuade the employees to

voluntarily retire from the company. It is also known as 'Golden Handshake' as it is the golden

route to retrenchment.

Bonus:- Bonus refers to the extra lump-sum income, awarded by an organization to its

employees usually on an annual basis. It may be provided to the employees on special occasions

like festivals, new year and other important celebrations. Some firms even distribute bonus to its

employees as a token for their contribution in the high performance of the firm. All such

gestures by an enterprise help in boosting the confidence of the employees in their efforts aswell as in the organization.In India, the payment of bonus by an establishment is governed by

the Payment of Bonus Act,1965.

Leave:- Leave refers to the absence of an employee from his duty or work because of some

unavoidable reasons and with due permission of the employer or the organization. Workers in

every organization should be provided with a sufficient number of leaves so that they may

refresh and revitalize themselves and contribute their best effort to the organization. Leave

policy may vary from one company to another depending upon its work culture and

organizational set up.

Social Security:- Social Seurityis one of the key components of labour welfare. Labour welfare

refers to all such services, amenities and facilities to the employees that improves their working

conditions as well as standard of living. Social security benefits provided by an enterprise

should protect not only their employees but also their family members through financial security


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including health care. Social security envisages that the employees shall be protected against all

types of social risks that may cause undue hardships to them in fulfilling their basic needs.

ritu report

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