RESEARCH PROJECT REPORT

(MBA - 043) ON
Bareilly Submitted in Partial Fulfillment of

Employee Benefit Schemes-A Study with selected Hospitals in

Master of Business Administration (MBA)

Programme : 2009 -11

Of

Gautam Budhha Technical University, Lucknow

Under the Supervision of (Mrs. Priyanka D Sharma) MBA Department SUBMITTED BY NAME:- Ritu Dixit ROLL NO.:- 1045070016

S.R.M.S.C.E.T., Bareilly

Shri Ram Murti Smarak Womens College of Engineering & Technology, Bareilly

Department of Management Science

(College Code 450)

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 of MBA IV Semester has completed her Research Project 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 personal 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) Head

Date:

Synopsis of Research Project Report

Submitted by: Ms. Ritu Dixit, MBA IV Semester, 2011-12 Academic Sessions Shri Ram Murti Smarak Womens College of Engineering & 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

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 be interacting 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.

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.

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

Annexure 1: Bibliography Annexure 2: Questionnaire Annexure 3: Other documents Ritu Dixit Date: Place:

Chapter 1 Introduction 1.1: Introduction

Companies provide their employees and workers with a variety of benefits. These benefits are basically 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

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 the manpower 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 as well 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 Seurity is 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

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.