A Study on Employee Welfare Activities in Insurance and Banking Sector in Punjab

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. newlineThe 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. newlineThe employees of the organization need continuous encouragement not only in the form of 1monetary benefits but also welfare measures. Welfare measures largely influence the employeesand#8223; 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