Chapter 1

Introduction:

Employee benefits are a crucial part of compensation packages offered by employers to their employees. These
benefits can range from health and life insurance to retirement plans, paid time off, tuition reimbursement, and
other incentives. The goal of providing employee benefits is to improve employee job satisfaction, increase
retention rates, and promote productivity. Employers are in a constant battle to attract and retain the best talent.
Therefore, the provision of employee benefits is an essential aspect of staying competitive in today's job market.

The effectiveness of employee benefits in achieving the desired outcomes has been a topic of discussion among
scholars, practitioners, and policymakers. There is a growing consensus that employee benefits have a positive
impact on employee well-being, job satisfaction, and overall productivity. However, the cost of providing
employee benefits can be a significant financial burden on employers, leading to questions about the return on
investment (ROI) of these programs.

A study on the effectiveness of employee benefits is, therefore, critical in determining the relationship between
employee benefits and employee outcomes. The purpose of this study is to investigate the impact of employee
benefits on employee satisfaction, retention, and productivity. The study aims to provide empirical evidence on
whether employee benefits result in a positive impact on employee outcomes.

The research question that will guide this study is: "What is the relationship between employee benefits and
employee satisfaction, retention, and productivity?" The study will review existing literature on employee
benefits and its impact on employee outcomes, including theories of motivation and job satisfaction. The
literature review will help identify gaps in existing research and inform the research design and data collection
methods.

To achieve the objectives of the study, a mixed-methods research approach will be utilized. The study will collect
both quantitative and qualitative data through surveys, focus group discussions, and semi-structured interviews
with employees and managers from different organizations. The data will then be analysed using statistical
software and qualitative data analysis techniques.

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The study will focus on three primary employee outcomes: satisfaction, retention, and productivity. Employee
satisfaction will be measured by asking employees to rate their overall job satisfaction and the level of
satisfaction with specific employee benefits offered by their employers. Retention will be measured by
analysing employee turnover rates and tenure data. Productivity will be measured by analysing employee
performance data and comparing the performance of employees who receive benefits to those who do not.
The study will also examine the factors that influence the effectiveness of employee benefits, including the type
of benefits offered, the communication and delivery of benefits, and the perception of fairness and equity
among employees.

In an organization, workforce is the most valuable asset and is important for an organization to understand their
needs and help them be engaged and satisfied. Employee benefits when offered to the employees act as an
attribute for better performance and support for your employees. With rapid globalization and organizations
looking at massive expansion not only in the countries where they are set up but also across the globe, is a key
indicator for giving employees the flexibility to work at the hours most convenient to them.

The effectiveness of employee benefits is a critical consideration for employers because offering the right
benefits can help attract and retain top talent, increase employee engagement and motivation, and improve
overall job satisfaction. In addition, offering employee benefits can help reduce employee turnover and
absenteeism, which can save employers money in the long run

To measure the effectiveness of employee benefits, employers may use various metrics, such as employee
satisfaction surveys, turnover rates, and productivity metrics. By analysing these metrics, employers can
determine which benefits are most valued by employees and make adjustments to their benefits offerings as
necessary.

It's important to note that the effectiveness of employee benefits may vary based on factors such as industry,
job type, and employee demographics. For example, offering a generous retirement plan may be more effective
for older employees, while younger employees may value flexible work arrangements or student loan
repayment assistance.

In conclusion, the effectiveness of employee benefits is a critical consideration for employers, as offering the
right benefits can help attract and retain top talent, increase employee engagement and motivation, and improve
overall job satisfaction

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About the area:

Employee benefits are an integral part of an employee's compensation package that goes beyond their base salary.
These benefits include health insurance, retirement plans, paid time off, and other incentives that employers offer
to attract and retain talent. The primary goal of providing employee benefits is to enhance employee job
satisfaction, promote productivity, and reduce turnover rates. However, there is ongoing debate among scholars,
practitioners, and policymakers about the effectiveness of employee benefits in achieving these goals.

A study on the effectiveness of employee benefits is, therefore, critical in determining the relationship between
employee benefits and employee outcomes. This study aims to investigate the impact of employee benefits on
employee satisfaction, retention, and productivity.

The study will examine the existing literature on employee benefits and its impact on employee outcomes,
including theories of motivation and job satisfaction. It will then collect both quantitative and qualitative data
through surveys, focus group discussions, and semi- structured interviews with employees and managers from
different organizations. The study's findings are expected to contribute to the existing knowledge on the
effectiveness of employee benefits in enhancing employee satisfaction, retention, and productivity.

Employee Benefits and Employee Outcomes:

Employee benefits are a crucial component of compensation packages that can have a significant impact on
employee outcomes. Employee outcomes are the results of an employee's experience within an organization,
including their job satisfaction, motivation, retention, and productivity. These outcomes are essential for both
employees and employers, as they directly affect job performance and organizational success.

Research has shown that employee benefits play a crucial role in enhancing employee outcomes. A study
conducted by the Society for Human Resource Management (SHRM) found that employees who are satisfied
with their benefits are more likely to remain with their current employer. Furthermore, employees who receive
comprehensive benefits packages are more productive and report higher levels of job satisfaction than those who
do not receive such benefits.

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Employee benefits can also affect employee motivation. The Expectancy Theory of Motivation suggests that
employees are motivated by their perception of the likelihood that their effort will lead to high performance, and
high performance will result in desired outcomes. In other words, if employees perceive that their effort will lead
to a positive outcome, they are more likely to be motivated. By providing comprehensive employee benefits,
employers can increase employees' perception of the likelihood that their effort will lead to a positive outcome,
thus motivating them to perform better.

The Impact of Employee Benefits on Employee Satisfaction:

Employee satisfaction is a critical outcome that is affected by the benefits an employer provides. Employees who
are satisfied with their benefits are more likely to report higher levels of overall job satisfaction. Furthermore,
employee satisfaction with specific benefits, such as health insurance, retirement plans, and paid time off, has
been linked to higher levels of job satisfaction.

Employee benefits can also play a crucial role in reducing employee stress, which can improve job satisfaction.
A comprehensive benefits package that includes health insurance and paid time off can help employees manage
their health and personal responsibilities, thus reducing stress and increasing job satisfaction.

The Impact of Employee Benefits on Employee Retention:

Employee retention is another critical outcome that is influenced by the benefits an employer provides. A
comprehensive benefits package can increase employee loyalty, reducing turnover rates and associated costs. In
contrast, employees who are dissatisfied with their benefits are more likely to leave their current employer.

Furthermore, employee benefits can also play a crucial role in attracting new employees. Job seekers often
consider an organization's benefits package as an essential factor in their decision-making process. By offering
comprehensive employee benefits, employers can increase their chances of attracting and retaining top tale

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The Impact of Employee Benefits on Productivity:

Employee benefits can also affect employee productivity, which is a crucial outcome for organizations. A study
conducted by the International Foundation of Employee Benefit Plans found that employees who receive
comprehensive benefits packages are more productive than those who do not. Employee benefits can enhance
productivity by reducing absenteeism and increasing.

Scope of Study:

The scope of a study on the effectiveness of employee benefits would typically include analysing the impact of
various benefits programs on employee satisfaction, engagement, retention, and productivity. The study may also
examine the costs associated with providing these benefits and evaluate whether they are cost-effective for the
organization.

Some of the employee benefits that could be examined include health insurance, retirement plans, paid time off,
flexible work arrangements, tuition reimbursement, and wellness programs. The study may also consider the
different needs and preferences of employees based on factors such as age, gender, and job type.

The study could involve a survey of employees to gather their opinions on the benefits they receive, as well as
analysis of HR data such as turnover rates, absenteeism, and productivity metrics. The study may also involve
benchmarking against industry standards or best practices to determine whether the organization's benefits
package is competitive.

The study will analyse the costs associated with providing employee benefits. The study will consider the direct
costs of providing benefits, such as premiums and contributions, as well as indirect costs such as administrative
expenses and the time and effort required to manage benefits programs. The study will also consider the cost-
effectiveness of employee benefits and evaluate whether they are providing a good return on investment for the
organization

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 Need of Study:

1. Providing employee benefits is a significant investment for most organizations, and it is important to
ensure that these benefits are actually contributing to the success of the organization. By studying the
effectiveness of employee benefits, an organization can determine whether the benefits are achieving their
intended goals, such as improving employee morale, reducing turnover, and increasing productivity.

2. Employee benefits can be a major factor in attracting and retaining talented employees. In today's
competitive job market, organizations that offer attractive benefits packages are more likely to be able to
recruit and retain top talent. By studying the effectiveness of employee benefits, an organization can
identify which benefits are most valued by employees and use this information to improve their
recruitment and retention efforts.

3. Employee benefits are often subject to regulatory requirements, such as those related to health insurance
or retirement plans. By studying the effectiveness of these benefits, an organization can ensure that they
are complying with applicable laws and regulations and avoiding any legal or financial risks.

4. In today's highly competitive job market, attracting and retaining top talent is crucial for organizations.
A well-designed and effective employee benefits program can help an organization differentiate itself
from competitors and attract and retain top talent.

5. An effective employee benefits program can improve employee satisfaction and engagement, which in
turn can lead to higher levels of productivity, better job performance, and higher levels of employee
loyalty.

6. Effectiveness of employee benefits can also help organizations identify areas for improvement and
make necessary adjustments to the benefits program to better meet the needs of employees and align
with the organization's business objective

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Objective:

 To analyze the value/ benefits of RG ENTERPRISES.

 To evaluate the effectiveness of employee benefits.
 A engagement, productivity, and retention.
 To recommend improvements to the employee benefits program.

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 Chapter 2

Industry profile:

Employee benefits are a crucial component of a comprehensive compensation package offered by employers to
attract, retain, and motivate their workforce. These benefits go beyond the basic salary or wages and aim to
enhance the overall well-being of employees. Common employee benefits include healthcare coverage, including
medical, dental, and vision insurance, which provides employees with access to essential healthcare services.
Retirement plans, such as 401(k) or pension programs, help employees save for their future. Paid time off, like
vacation days and sick leave, allows for work-life balance and recuperation when needed. Life and disability
insurance provide financial security in times of unexpected events. Additionally, benefits like flexible spending
accounts, wellness programs, and tuition reimbursement promote health, personal development, and career
growth. Overall, employee benefits play a significant role in creating a positive work environment, promoting
employee satisfaction, and fostering long-term loyalty among the workforce.

Employee benefits are a tool used by businesses to attract potential applicants, improve employee satisfaction,
reduce turnover and maintain competition. Benefits that most employers offer include, but are not limited to,
medical and dental coverage, time away from work, retirement, and additional assistance during life changing
events. The majority of employers in the United States offer benefits to their employees and include an annual
enrollment yearly to select benefits and make any needed changes.

Any competitive compensation package must now include employee benefits because they have become
essential. Benefits and bonuses can significantly impact attracting top talent and keeping employees, from legally
required insurance to complimentary snacks.

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Company and Product profile:

RG Enterprises is one of the influential private finance organisation in Chennai. Who combine individual funds
and help corporate organizations to resolve their financial crisis. When individuals or organisations are in
shortage of funds RG Enterprises works also with other finance groups to arrange funds for clients. This happens
even when other finance groups are in shortage of funds, they trans fer their clients' funds to maximise the
funding. The Private Finance Market is totally different from the normal perception as RG Enterprises only deals
with funds raised for Finance through trusted sources and the organisation will not be dealing with black money
or trust funds for reduced interest rates for financing.

RG ENTERPRISES is a well established Staffing and Recruitment firm since 2008 having a team of expert
consultants operating from Chandigarh and catering to major National assignments for various corporates across
functions. We have our own good data bank & are majorly covering Northern, Southern & Western India.
Through the combined expertise of consultants, we specialize in providing support in placing Top Level
Management Researchers across domains. We are also efficient enough to identify and acquire outstanding
Management Executive across functions that are required to meet challenges. RG Enterprises offers extraordinary
expertise and experience, through our dedicated team of experts filled with immense knowledge of industry and
functional expertise to prove their consistent efforts into remarkable results in a short span for our Valued Clients.
SERVICE OFFERINGS Executive talent Search & Senior Placements Contract Employment Integrated
Placement Services Organization mapping & focused search services. OUR STRENGTHS Propriety database
of over 3,00,000 professionals based across locations in India. Ability to conduct focused search for key skills &
positions.

RG Enterprises is one of the leading Manufacturer, Wholesaler and Trader of Stretch Film, Cling Film, Pvc
Industrial Grade, Foam Roll,Air Bubble, Foam Sheet, Pu Foam, Poly Bag, Poly Tubing,Bopp Tape, Box
Strapping, Pp Woven Fabric, Corrugated Roll. We offer wide range of products in every segment depending
upon need of the end product.

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Research Methodology:

Research design:

Descriptive research design is used. Descriptive research design is a type of research design that aims to obtain
information to systematically describe a phenomenon, situation, or population. More specifically, it helps answer
the what, when, where, and how questions regarding the research problem, rather than the why.

Sampling Technique:
Convenience sampling technique is used. Convenience sampling is a non-probability sampling method where
units are selected for inclusion in the sample because they are the easiest for the researcher to access. This can
be due to geographical proximity, availability at a given time, or willingness to participate in the research.
Sometimes called accidental sampling, convenience sampling is a type of non-random sampling.

 Sampling Area: The sampling Area is the RG ENTERPRISES, Chennai.

 Sample Size: 50 samples were collected from the employees and employer belonging to HR Payroll
department at the RG ENTERPRISES
 Period of the study: The study was undertaken for a period of 40 days (i.e.) between (Jan 2023 – Feb
2023).

Data Collection: Primary Data

Questionnaire method were used. Data has been collected from the respondents - the employees and employer in
RG Enterprises using pre-determined questionnaire. A questionnaire is a research instrument that consists of a
set of questions or other types of prompts that aims to collect information from a respondent. Questionnaires are
also sharply limited by the fact that respondents must be able to read the questions and respond to them.

Secondary Data:

Data collected from various journals, books, internet, newspaper, and websites.

Percentage Analysis:

Percentage refers to a special kind of ratio. Percentages are used in making comparison between two or more
series of data. Percentages can also be used to compare the relative terms, the distribution of two or more series
of data.
Percentage of Respondents = No. of Respondents ÷ Total No. of Respondents x 10
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Review of Literature:

Miller (2008) in a study on health paid leave benefits has found that health coverage remains by far the most
costly benefits provided to employees more than one quarter of human resource professionals, 29%, indicated
their organisation now provide health saving accounts, paid family leaves and paid paternity leave all declined
in 2008compared with 2007.

Giesel (2005) in a study on New York city council passes has found that grocery stores and other retailers that
sell groceries to make substantial contributions toward their employees’ health insurance coverage costs by the
New York council, estimated amount of contribution to each employee per hour, coverage of the mandate,
implications of the legislation for the Employees Retirement Income Security Act.

Hone (2007) in a study on health plans has found that the seven step plan that can guide companies toward their
transformation to consumer driven health plans and health Savings accounts in the US companies should
establish at honest assessment of their health benefits and health status. They are also asked to create a long-
term vision with interim and annual goals.

Gresham (2005) in a study on responsibility in plain language found that the responsibility of an employee to
handle health costs through a consumer directed plan. Explanation on the defined contribution retirement
products, reflections, reason it is necessary that benefits manager should continuously reassess their programmes
and communications with their employees.

Oberoi(2010) in a study on rewards and benefits has found that it is not just how much reward our staff that
matters. Rather, it is what reward them for how measure the results of this investment. Variable pay, benefits
differentiated rewards and performance matric these are all key aspects play the important role in ROI
measurement and essential part of an Furtado(2009) in a study on compensation and benefit systems has
found that these systems should be strategically designed for the purpose they are intended to plan and the results
they are trying to drive. Benefits include health, retirement and provident fund Plans designed to help protect and
ensure employees‟ financial security, as well as Programmed providing pay for time not worked. Over a period
of time, employee benefits of insurance coverage and some pre- requisite to a comprehensive range of
benefits. Benefit strategy is the one definable link in a strategic chain. Benefit system is the fundamental
part of all organizations. The companies on the top have better planned and implemented benefit systems.

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Shikari(2010) in a study on employees superior performance and rewarding them found that Ugam Solutions
started its Annual Golden Pyramid Awards in 2002. The Golden Pyramid Awards are given to Ugam employees
who have made a difference in their work.
Employees who are passionate about their work have shown excellent results. The winners are looked up to and
it is an award is won by any team member.

Report(2008) in a study on the Accenture offers a variety of benefits to its employees has Found that the
Accenture’s Fun Program includes providing gyms at workplace.
Wellness centres are used to spread awareness about the importance of a healthy lifestyle and gives tips a diet
and training about various forms of exercise. Employees have access to an entire array of recreational facilities
like gymnasium, table tennis, billiards, yoga, meditation etc. teamwork is encouraged through activities like on
the floor contests, team outings, offsite meetings and celebrations on festivals, project go- live birthdays etc,
employee health and safety is of utmost significance to Accenture.

Martocchio (2017) defines employee benefits as "indirect forms of compensation provided to employees in
addition to their regular wages or salaries, such as health insurance, retirement plans, and paid time off."

Milkovich and Newman (2018) define "all the indirect and non-cash compensations provided to employees in
addition to their salaries, including health insurance, retirement plans, paid time off, and other services or
products." Employee benefits as employee benefits are all indirect and non-cash compensations provided to
employees in addition to their salaries or wages. These benefits are designed to provide employees with additional
security, protection, and comfort. Examples of employee benefits include health insurance, retirement plans, paid
time off, disability

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 Chapter 3

Why employee benefits is important for the organization

Why are employee benefits important for the success of a company? Employers have
many reasons to care about the importance of employee benefits as more attention is turning
toward how organizations treat their workforces. Benefits are a show of loyalty and
commitment to your team. If your organization is considering implementing benefits or
reviewing the benefits currently on offer, here are some reasons why being generous with
benefits can pay dividends to the company.

Employee benefits are designed to help promote employee satisfaction and well- being.
This is usually done through benefits ranging from flexible working hours and child care
support right through to dental care and pension schemes. Company perks are an extra incentive
provided by employers to attract and retain employees, contributing towards improving well-
being and staff engagement across an organisation. However, it wasn’t so long ago that
extra benefits were used as a retaining measure or a 'good will gesture' to persuade and
encourage employees to continue their work at that organisation.

Employee retention literally means to retain the pre-existing employees of your

company. Offering employee benefits is a great employee retention strategy for your
employees, you motivate them to choose your worksite over others, and stay in your company,
helping your company stand out from the rest of the competition.

1. Attract the Best of the Best

A company lives or dies by the quality of its workforce. The most talented employees
will never work for someone who fails to value them. With a hypercompetitive business
landscape, attracting top talent should be a number one priority and a tempting benefits package
is one of the most effective ways to do so.

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2. Help Your Employees Outside of the Workplace

The COVID-19 pandemic has shone a harsh spotlight upon worker wellness
nationwide. The importance of health benefits to employees is more important now than ever,
and that includes more than offering health insurance and sick days. Extra vacation days
support mental health, which is why many companies like Nike and Bumble gave their entire
U.S. workforce a paid week off. As healthcare costs rise continuously, coverage for workers
and their families is a huge selling point.

3. Better Health Means Better Work

The story of the employee who is sick yet comes into work because they can’t afford to
take time off is an all too familiar one. A pervasive culture of presentism is not beneficial to
employers. Giving health coverage to your employees and ensuring they care for themselves
means you’ll get more from them because they’ll feel valued and motivated to work hard.
Healthy workers can give their all every day, which translates to better results for the business.

4. More Productivity

Talented, healthy teams translate to more productivity. Teams that feel taken care of
will give back by being more productive in their roles, rather than showing up and only doing
the bare minimum. It’s no secret that superior benefits packages lead to more motivated
workforces.

5. Attract the Best of the Best

A company lives or dies by the quality of its workforce. The most talented employees
will never work for someone who fails to value them. With a hypercompetitive business
landscape, attracting top talent should be a number one priority and a tempting benefits package
is one of the most effective ways to do so.

21
6. Improve Your Company’s Reputation

Online and offline reputation management should be a priority for your company. Modern
consumers have shown that they’re more willing to spend their money at a business that shares
their values. A company that treats its workers badly is more likely to fall victim to a public
relations scandal and lose business. One disgruntled employee is all it takes to cause a loss of
revenue and customer loyalty.

7. Benefits for Employees:

Employee benefits are a critical component of the total compensation package, and can
play a key role in attracting and retaining employees. In a competitive job market, employees
are often looking for more than just a base salary or hourly wage. They also want to receive
additional compensation in the form of employee benefits, which can help to enhance their
financial security, provide access to health care and other services, and contribute to their
overall well-being. Effective employee benefits can also help to improve employee motivation,
job satisfaction, and engagement, which can lead to higher levels of productivity and better
organizational performance.

8. Impact on the Organization:

The effectiveness of employee benefits can also have a significant impact on the success of
the organization. By offering competitive and effective employee benefits, organizations can
attract and retain high-quality employees who can contribute to the achievement of
organizational goals. Effective employee benefits can also help to reduce turnover rates and
absenteeism, which can result in significant cost savings for the organization. Additionally,
effective employee benefits can help to improve employee morale and job satisfaction, which
can result in better performance and increased profitability for the organization.

9. Strategies for Ensuring Effectiveness:

To ensure the effectiveness of employee benefits, organizations must carefully design and
implement each benefit in a way that meets the needs and preferences of employees, while also
aligning with the goals and values of the organization. Some strategies for ensuring the
effectiveness of employee benefits include:

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 1. Conducting Employee Needs Assessments: Before designing employee benefits,
organizations should conduct surveys or focus groups with employees to identify their
needs and preferences.

2. Aligning with Organizational Goals: Employee benefits should be designed in a way

that supports the goals and values of the organization.

3. Providing Clear Communication: Employees should be provided with clear and concise
information about their benefits, including how to enrol, the cost of each benefit, and
the value that each benefit provides.

4. Evaluating Effectiveness: Organizations should regularly evaluate the effectiveness of

employee benefits, including their impact on employee well-being, job satisfaction, and
organizational performance.

5. Adjusting Benefit Offerings: Based on the results of the evaluation, organizations may
need to adjust their benefit offerings to better meet the needs of employees and the
organization.

Advantages and disadvantages of employee benefits:

Advantages:

1. Increased entreat:

Employee benefit should be given so as it will help the dedicated and hard-working
employees the growth and satisfaction of being in an organization. It often helps to bring along
a spirit of ownership by the employees towards their organization.

There have been various surveys across the organization that says that hard-working
and dedicated employees are the reason why they aim at providing benefits to the employees.
The most important thing an organization will be in need of are the employees who are

dedicated towards them and to keep them in that organization for specified stimulated time to
the employees.

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2. Minimizing the throughput:

Often it seems difficult for a business to maintain its policies if the people working
under them are constantly going and coming around. To show that the organization cares about
the employee, it is required to offer employee benefits for them. Loyalty works best for the
organization. Loyalty helps in bringing the people and the organization closer.

By keeping the benefits to the employees it helps them to stay in the organization for a
longer period of time. By minimizing the throughput and keeping the senior and the most
dedicated employees stay in the organization it will eventually help the organization to grow
better.

3. Improvised self-esteem:

The advantages of offering employee benefits help in boosting up the self-esteem of the
employee. Employee benefit helps in defining, completing, understanding the needs of the
workforce they are intended to work with. Employees tend to take their job more seriously if
any additional offerings are being provided to them in their workplace.

Often the organization shows their concern about their employees by providing them
with enough employee benefits that will help the employee and organization relationship and
bring loyalty amongst each other.

4. Dedicated Workforce:

The organization expects the employee to work with full dedication and offer their work
for the sake of an organization and on the other hand, the organization keeps the employees
delighted so that they will serve to them for a long period of time.

Providing adequate benefits for the employee and asking for surveys often from the
employee to help them in any possible way to enhance their performance will eventually help
both the organization and the employee grow.

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5. Health is wealth:

Offering benefits may vary from organization to organization but health benefits are
those benefits that enhance the growth of the organization up to a greater limit. Assuming if an
organization offers a vivid variety of health plan for the employee under the workforce and
offering specific sick leave within the stipulated time period will help the employee to take the
leave on the day they are not feeling well and at the same time, their salary will not get affected.

By offering various medical plans for the employees the employees can inculcate and
support the upliftment more for both themselves and their family and the organization with
which they are engaged.

6. Regularity in health check-ups:

Regular health check-ups and proper medical steps are taken under the various
insurance plans from time to time which will first and foremost help in detecting any disease if
it is there and secondly will provide proper medication that will boost the employee’s immune
system and help him get prevented by any disease at its initial phase.

This way of providing daily check-up will ensure the organization that the employee
will be taking the minimal leaves as they will not be in need of additional sick leaves as their
health will be maintained from time to time and actions are being performed over them instantly

7. Social-Security:

This will help them to contribute to the safety and security of themselves and help them
to get associated with the organization for a longer period of time. Retirement plans and other
life insurance plans also get into account for the employees.

Retirement plans help the employees to properly maintain and get the money as a
pension even after they are not working anymore as an interest of the money they have
deposited during the time they were working. This amount helps them to live their life happily
after retirement.

8. A step for betterment:

The only motive of providing health benefits is to make the employees healthier so that
they can work in the organization for a longer period of time with full determination and
dedication. It is a good plan to offer medical insurance to the employees and their families.

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 To keep the productivity of the organization active they need to keep a good and
professional attitude. The more an organization cares about the employee, the more the
employee gives in return to the organization considering the organization as their own being.

9. Increased Productivity:

By offering employee benefits, the employee gets more reason to care about the
company they are serving and being more dedicated towards them as much as possible. A
happy employee will help in better productivity for the organization.

If the employees working under an organization seeks attention from the organization
when and where required they in return will favour hard work with the full dedication that will
eventually help the organization to grow and increase profit, quality and productivity will be
the outcome from such dedicated employees.

10. Upbringing employee’s growth:

Private as well as the government employees both contribute their parts for the
upbringing of their respective workplaces. Not only in the worldly affairs but within an
organization, schemes are given under which the employee working the most will get
additional benefits and for this policy of reward management things are being initiated across
the various organization to keep the employee have the spirit of competency.

This competency will drive the individual to perform better than other employees to get
the maximum benefit out from their work.

11. Flexible Working hours:

Flexibility in the working hour helps the employee to complete their work assigned to
them as per their condition. It does not include that the employee will get flexible hour or any
retention from the stipulate working hour given to them rather it will provide an ease that if for
certain reason an employee is unable to give full time in a particular day, she/he can compensate
that by working extra for the next day or so.

Flexibility in the working hours helps the employee to work efficiently without any
specific fear from constraints.

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12. Tax advancement:

Income tax deduction helps the employee for contributing to the tax with minimal tax
deduction. The benefit offered to the employees under this tax advancement helps the employee
to reduce the tax as much as possible. If the business is incorporated, all costs for the insurance
and the employees are deductible.

This will also help the employee for financial saving. This competency will improvise
both the company’s profit as well as the employee’s growth. Offerings a good health benefit
will help in creating a stable workplace and will help in creating a position in the world for
them.

13. Benefits offering advancements:

It is often visible that the more the organization provides benefits, the more their staff
works. Flexibility helps in providing ease for the employee and helping them to work as per
their wish but still, they are asked to meet the deadline and not take their work for granted.

Sick leave benefits are still given to the employee so that they stay up in their home and get
well soon so that it does not become contagious for the other employees.

Disadvantages:

1. Cost:

One of the primary disadvantages of employee benefits is the cost associated with
providing them. Providing effective employee benefits can be expensive for organizations,
and may require significant financial resources. This can be a challenge for organizations
with limited budgets, and may require difficult decisions about which benefits to offer.

2. Complexity:

Employee benefits can also be complex and difficult to manage. Organizations may
need to invest significant time and resources in administering and communicating benefits
to employees, which can be a significant burden.

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3. Compliance:

Many employee benefits are subject to legal requirements and regulations, which can
be complex and time-consuming to navigate. Failure to comply with these requirements
can result in significant legal and financial consequences for organizations.

4. Limited Value:

Some employee benefits may not be highly valued by employees, which can reduce the
effectiveness of the benefits in attracting and retaining employees. For example, some
employees may not see the value in certain wellness programs or training and development
opportunities.

5. Inequity:

Employee benefits can also create issues of inequity among employees. Some
employees may receive more generous benefits packages than others, which can create
feelings of resentment and unfairness.

6. Changing Employee Needs:

Employee needs and preferences for benefits can change over time, which can make it
difficult for organizations to keep up with changing demands. Organizations may need to
invest in regular reviews of their benefits packages to ensure they are meeting the changing
needs of their employees.

7. Difficult to keep everyone happy:

As in an organization, the plans chosen are such that are benefited for the majority of
the employees but some or few employees will not be satisfied with the current chosen
policy and with the amount they have to pay for their portion. The packages chosen by the
organization are often not too delightful and are meant more for their personal benefit. Plans
are often changed every year in different organizations and businesses which hinders the
growth of the employee in the company as the insurance plans get along on the annual basis
gets affected.

8. Legalization and authentication curse:

Often the benefits create concerns regarding legal complaints against both the
employees and the organization on breaking certain policies intentionally or
unintentionally. On breaking up of the specific policy and not paying the retention carries
28
legal fees that need to be submitted to get out of trouble which at times becomes
troublesome.

9. Too expensive for the employees to fit into:

No matter how much amount the health benefits are favouring the company but they
still are going to deduce the amount from the employee more than what they actually want
to offer. Smaller businesses are charged more than the other because they do not have many
employees within them while big businesses find benefit expensive as they need to pay a
portion of every employee’s benefit.

10. Management of budget becomes difficult:

The cost associated with health insurance is rising day by day which in turn are
increasing the turnover rate of the company. If the cost increases the company for the
compensation forces the employees to give more money to accommodate their plans in the
budgets. If the company cannot afford the increase in insurance, it will force the employee
to switch to a new insurance package which will take a great deal of time to find a suitable
package and then investing in them from the very initials.

11. Difficulty in switching:

Switching often becomes very difficult to manage and the company loses many
employees if proper actions are not being taken. The major disadvantage associated with it
is that the more the employees in the organization will be, the more the company needs to
pay to the insurance company to manage the account of different employees.

12. Difficult to maintain:

The additional department needs to be established in a company to properly manage the

plans in the organization which will turn in hiring additional employees. Some health
insurance packages also include help from a lawyer to make sure that the employees are
covered and legal fees and other such expenses are added easily. Lawsuits are again a curse
for the organization. Lawsuits are sometimes extremely expensive and take a great amount
of time to keep it away from any business. Even if the suit makes it to the court it can be
very expensive to pay the legal fees and pay off the fines for its settlement.

29
Importance of employee benefits:

Employee benefits refer to any type of non-wage compensation provided to employees

in addition to their regular salary or wages. These benefits may include health insurance,
retirement plans, paid time off, wellness programs, tuition reimbursement, and other perks or
incentives. While employee benefits are not mandatory for all employers, offering competitive
benefits packages has become increasingly important in today's job market to attract and retain
top talent.

Employee benefits are a set of non-wage compensations provided to employees in

addition to their regular salary or wages. These benefits can include things like health
insurance, retirement plans, paid time off, tuition reimbursement, and more. They serve as a
way for employers to attract, retain, and motivate their employees, and they can have a
significant impact on job satisfaction and overall quality of life for workers.

One of the primary benefits of employee benefits is that they help employers attract and
retain top talent. In a competitive job market, offering attractive benefits packages can set a
company apart from its competitors and make it more appealing to job seekers. In fact,
according to a survey by Glass door, 57% of job seekers say that benefits and perks are among
their top considerations when choosing a job. By offering a comprehensive benefits package,
employers can demonstrate their commitment to the well-being and happiness of their
employees, which can help attract and retain top talent.

Another key benefit of employee benefits is that they can improve employee morale
and job satisfaction. When employees feel valued and supported by their employer, they are
more likely to be engaged and motivated at work. By offering benefits like health insurance,
retirement plans, and paid time off, employers can help employees feel secure and cared for,
which can boost morale and improve job satisfaction. In fact, a study by MetLife found that
employees who are satisfied with their benefits package are more likely to be satisfied with
their job overall.

Employee benefits can also have a positive impact on employee health and wellness.
By offering health insurance, wellness programs, and other health-related benefits, employers
can encourage employees to prioritize their physical and mental health. This can lead to lower
healthcare costs for both the employer and the employee, as well as reduced absenteeism and
increased productivity

30
Methods of effectiveness of employee benefits:

1. Employee surveys:

Employee surveys can be used to gather feedback on the effectiveness of various

employee benefits. These surveys can help organizations understand which benefits are
most valued by employees, and identify areas for improvement.

2. Turnover rates:

High turnover rates can be an indication that employee benefits are not effective
in retaining employees. Organizations can track turnover rates and use this information
to identify potential issues with their benefits packages.

3. Absenteeism rates:

High absenteeism rates can be a sign that employees are not satisfied with their
jobs or the benefits they receive. By tracking absenteeism rates, organizations can
identify potential issues and make adjustments to their benefits packages as needed.

4. Cost-benefit analysis:

Organizations can use cost-benefit analysis to determine the financial impact of

various employee benefits. This analysis can help organizations understand which
benefits provide the most value for their investment, and identify areas where they may
be able to reduce costs or invest more effectively.

5. Benchmarking:

Organizations can compare their employee benefits packages to those of other

similar organizations to identify best practices and areas for improvement.
Benchmarking can help organizations understand how their benefits packages compare
to others in the industry, and identify potential areas for differentiation.

6. Focus groups:

Focus groups can be used to gather in-depth feedback on employee benefits

from a small group of employees. These sessions can provide valuable insights into
how employees perceive various benefits and what changes they would like to see.

31
Types of employee benefits:

There are several methods that organizations can use to provide employee benefits. Some
of the most common methods include:

1. Health insurance:

Health insurance is one of the most popular employee benefits, and can be
provided through a variety of methods. Employers can offer traditional group health
insurance plans, health savings accounts (HSAs), or health reimbursement
arrangements (HRAs).

2. Retirement plans:

Retirement plans are another popular employee benefit, and can be provided
through 401(k) plans, pension plans, or other investment vehicles. Employers may
choose to match employee contributions or provide a set contribution amount.

3. Flexible work arrangements:

Flexible work arrangements, such as telecommuting, flexible schedules, or job

sharing, can be a valuable employee benefit. These arrangements allow employees to
work in a way that meets their personal and professional needs, which can increase job
satisfaction and reduce turnover.

4. Wellness programs:

Wellness programs can be used to promote employee health and wellbeing, and
can include activities such as exercise classes, healthy eating programs, or mental health
resources.

5. Education and training:

Education and training programs can be a valuable employee benefit, providing

employees with the opportunity to develop new skills or advance their careers. These
programs can include on-the-job training, tuition reimbursement, or professional
development opportunities.

32
6. Childcare assistance:

Childcare assistance can be a valuable benefit for employees with children.

Employers can provide on-site childcare, subsidies for childcare expenses, or flexible
scheduling to accommodate parents' childcare needs.

7. Disability Insurance:

The employer pays for the worker’s salary if the worker becomes disabled or is
unable to work. An employer can provide either short-term or long-term disability
insurance depending on the needs of the employee. Short-term covers for the employee
for up to 6 months while long-term covers a worker’s lifetime’s salary.

8. Corporate Discounts:

Refers to the discounts offered to employees on the original price of goods or

services by the employer. These are discounts that are developed exclusively for
corporate employees. Companies also use this method to test their products internally
before launching them to the market. Vantage Circle’s Vantage Perks program is the
same. It provides the best deals and offers handpicked for corporate employees at
prices discounted exclusively for them.

9. Office Perks:

Organizations now try to merge both work and life together. They give out perks
designed to make the office fun and joyous. Some of these perks involve having board
games at work, nap rooms, free food.

10. Stock Options:

The Company offers the employee the right to buy shares in the company at an
agreed-upon price by a particular date. This price is generally lower than the market.
This helps employees have ownership over something that they are working to build
too. It makes them feel as one with the organization.

33
11. Employee Training:

Another great way to retain talented employees is by letting them grow. Provide
them with the resources and the capital required to undertake training courses.
You can also do the same for new employees to enhance their skills. Some ways are by
paying them to attend lectures and conferences, e-learning methods and more.

12. Profit-Sharing:

It is a compensation program to award eligible employees a share of the

company’s profits. The company contributes a portion of its pre-tax profits to a pool
that gets distributed among eligible employees. This motivates employees to work
towards increasing the profitability of the company. It also enhances commitment to
organizational goals.

13. Performance Bonus:

Everyone wants to and loves being appreciated. And when you understand
employees for their hard work and achievements, they continue to perform well.
Rewarding them for their performance motivates and encourages them to achieve goals
more effectively.

14. Paid Sick Leaves:

Taking care of your health is important. When employees will be weak but still
have to work, it will directly affect their productivity and efficiency. So creating a policy
where they can avail paid sick leaves is a great way to show that you care for your
employees’ well-being.

15. Tuition Reimbursement:

Organizations offering employees to pay back for their education expenses is

an excellent employee benefits idea. Employees have to pay on their own before taking
up a course. But once the system gets over, the employer decides to pay either a part
or the full amount for the course. The tuition reimbursement feature is a great way to
upskill yourself with higher studies at the current moment with these tuition fees or
50% reimbursement by the companion.

34
 Chapter 4

Data Analysis & Interpretations:

A survey on whether the employees are satisfied with the services provided by of RG
Enterprises or not, is conducted to understand the opinion and suggestions to get enough
feedback

The survey was conducted among 50 employees of RG Enterprises. The data has been collected
through questionnaire.

35
 Table 4.1. Satisfied with ESI scheme

No. of Percentage
respondents
Highly satisfied 21 42%

Satisfied 8 16%

Neutral 11 22%

Dissatisfied 6 12%
Highly 4 8%
dissatisfied

Chart 4.1. Satisfied with ESI scheme

Satisfied with ESI scheme

45

40 42
35

30

25

20 22
15
16
10 12
5 8

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

The degree of satisfaction with an ESI programme among 50 respondents is displayed in Table
4.1. Of the respondents, 8 (16%) and 21 (42%) said they were satisfied with the plan,
respectively. 11 respondents (22%) indicated neutrality, 6 (12%) expressed dissatisfaction, and
4 (8%) expressed extreme dissatisfaction with the plan.

36
 Table 4.2. Usage of provident fund

Particulars No. of Percentage

respondents
Highly satisfied 29 58%

Satisfied 6 12%

Neutral 7 14%

Dissatisfied 3 6%

Highly 5 10%
dissatisfied

Chart 4.2. Usage of provident fund

Usage of provident fund

70

60
58
50

40

30

20

10 14
12
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

In table 4.2, 29 (58%) of the respondents said they were very satisfied with how the money was
used, while 6 (12%) said they were satisfied. 7 respondents (14%) indicated a level of
neutrality, 3 (6%) of dissatisfaction, and 5 (10%) of extremely dissatisfaction with the fund's
use.

37
 Table 4.3. Education assistance

Particulars No. of Percentage

respondents
Highly satisfied 16 32%

Satisfied 18 36%

Neutral 5 10%

Dissatisfied 2 4%
Highly 9 18%
dissatisfied

Chart 4.3. Education assistance

Education assistance
40

35
36
30 32

25

20

15 18

10
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Information on the education assistance is shown in Table 4.3. 16 (32%) of the respondents
said they were very satisfied with the education assistance received, while 18 (36%) said they
were satisfied. 9 respondents (18%) reported being extremely dissatisfied with the education
assistance offered, compared to 2 (4%) who were neutral and 5 (10%) who were dissatisfied

38
 Table 4.4 Satisfied with medical claim

Particulars No. of Percentage

respondents
Highly satisfied 15 30%

Satisfied 18 36%

Neutral 10 20%

Dissatisfied 6 12%
Highly 1 2%
dissatisfied

Chart 4.4. Satisfied with medical claim

Satisfied with medical claim

40

35
36
30
30
25

20
20
15

10 12

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Data on 50 respondents' levels of satisfaction with regard to medical claims are shown in Table
4.4. 15 (or 30%) of the respondents said they were very satisfied with the medical claim
process, while 18 (or 36%) said they were satisfied. Only 1 respondent (2%) reported being
extremely unsatisfied with the medical claim process, while the other 6 (12%) reported being
neutral or dissatisfied.

39
 Table 4.5. Organization provide good incentive

Particulars No. of Percentage

respondents
Highly satisfied 9 18%

Satisfied 7 14%

Neutral 11 22%

Dissatisfied 14 28%
Highly 9 18%
dissatisfied

Chart 4.5. Organization provide good incentive

Organization provide good incentive

30

28
25

20 22

18 18
15
14
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Data on 50 respondents' levels of satisfaction with the rewards offered by their company are
shown in Table 4.5. Nine respondents (18%) and seven respondents (14%) said they were
satisfied with the incentives offered. The incentives offered by their organisation were reported
to be neutral by 11 respondents (22%) or dissatisfactory by 14 respondents (28%) or highly
dissatisfactory by 9 respondents (18%).

40
 Table 4.6. Team outing

Particulars No. of Percentage

respondents
Highly satisfied 25 50%

Satisfied 15 30%

Neutral 8 16%

Dissatisfied 1 2%
Highly 1 2%
dissatisfied

Chart 4.6. Team outing

Team outing
60

50
50

40

30
30

20

16
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Table 4.6 contains information on how 50 respondents felt about team outings. 25 (50%) of the
respondents said they were very satisfied with the team outings, while 15 (30%) said they were
satisfied. Only 1 respondent (2%) reported being extremely dissatisfied with the team outings,
while 8 respondents (16%) reported being neutral towards them.

41
 Table 4.7. Job training
Particulars No. of Percentage
respondents
Highly satisfied 11 22%

Satisfied 20 40%

Neutral 15 30%

Dissatisfied 2 4%
Highly 2 4%
dissatisfied

Chart 4.7. Job training

Job training
45

40
40
35

30
30
25

20 22
15

10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

20 (40%) and 11 (22%) of the respondents said they were satisfied, respectively, with the job
training they received. 15 respondents (30%) said they were neutral about the job training they
received, 2 (4%) said they were dissatisfied, and 2 (4%) said they were very dissatisfied.

42
 Table 4.8. Work from home

Particulars No. of Percentage

respondents
Highly satisfied 10 20%

Satisfied 15 30%

Neutral 6 12%

Dissatisfied 14 28%

Highly 5 10%
dissatisfied

Chart 4.8. Work from home

Work from home

35

30
30
25 28

20
20
15

10 12
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

15 respondents (or 30%) said they were satisfied with their ability to work from home,
compared to 10 who said they were very satisfied. 14 (28%) respondents said they were
dissatisfied with their ability to work from home, while 5 (10%) said they were extremely
dissatisfied. 6 respondents (12%) said they were neutral about the option.

43
 Table 4.9. Canteen food

Particulars No. of Percentage

respondents
Highly satisfied 12 24%

Satisfied 13 26%

Neutral 10 20%

Dissatisfied 11 22%
Highly 4 8%
dissatisfied

Chart 4.9. Canteen food

Canteen food
30

25
26
24
20 22
20

15

10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

According to the data 12 (24%) of the respondents said they were very satisfied with the food
at the canteen, while 13 (26%) said they were satisfied. 11 respondents (22%) reported being
unsatisfied, 4 (8%) reported being extremely unsatisfied, and 10 respondents (20%) reported
being neutral about the canteen food.

44
 Table 4.10. Cafeteria

Particulars No. of Percentage

respondents
Highly satisfied 17 34%

Satisfied 18 36%

Neutral 8 16%

Dissatisfied 4 8%

Highly 3 6%
dissatisfied

Chart 4.10. Cafeteria

Cafeteria
40

35
36
34
30

25

20

15
16
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

According to the data 17 (34%) of the respondents said they were very satisfied with the
cafeteria, while 18 (36%) said they were satisfied. 8 respondents (16%) said they were satisfied
with the cafeteria, 4 (8%) said they were dissatisfied, and 3 (6%) said they were very
dissatisfied.

45
 Table 4.11. Flexi timing

Particulars No. of Percentage

respondents
Highly satisfied 35 70%

Satisfied 10 20%

Neutral 3 6%

Dissatisfied 1 2%
Highly 1 2%
dissatisfied

Chart 4.11. Flexi timing

Flexi timing
80

70
70
60

50

40

30

20
20
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

35 (70%) of the respondents said they were very satisfied with the flexible timing policy, while
10 (20%) said they were satisfied. Three (6%) respondents said they were indifferent towards
the policy, while one (2%) said they were either somewhat or very unhappy with it.

46
 Table 4.12. Amenities

Particulars No. of Percentage

respondents
Highly satisfied 9 18%

Satisfied 8 16%

Neutral 12 24%

Dissatisfied 10 20%
Highly 11 22%
dissatisfied

Chart 4.12. Amenities

Amenities
30

25
24
20 22
20
18
15
16

10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

According to the data 9 (or 18%) of the respondents said they were very satisfied with the
amenities, while 8 (16%) said they were satisfied. 12 respondents (24%) said they were neutral
towards the amenities, 10 (20%) said they were dissatisfied, and 11 (22%) said they were
extremely dissatisfied.

47
 Table 4.13. Children/Parent health care scheme

Particulars No. of Percentage

respondents
Highly satisfied 16 32%

Satisfied 22 44%

Neutral 8 16%

Dissatisfied 3 6%

Highly 1 2%
dissatisfied

Chart 4.13. Children/Parent health care scheme

Children/Parent health care scheme

50
45
40 44

35
30 32
25
20
15
16
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Data on 50 respondents' levels of satisfaction with the organization's children's and parents'
health care programme are shown in Table 4.13. 16 (32%) of the respondents said they were
very satisfied with the plan, while 22 (44%) said they were satisfied. 8 respondents (16%) said
they were satisfied with the plan, 3 (6%) said they were not satisfied, and 1 (2%) said they were
very dissatisfied.

48
 Table 4.14. Health insurance

Particulars No. of Percentage

respondents
Highly satisfied 19 38%

Satisfied 21 42%

Neutral 6 12%

Dissatisfied 1 2%
Highly 3 6%
dissatisfied

Chart 4.14. Health insurance

Health insurance
45

40 42
35 38

30

25

20

15

10 12

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

Information on 50 respondents' satisfaction levels with the organization's health insurance is

shown in Table 4.14. 19 (38%) of the respondents expressed a high level of satisfaction with
the health insurance programme, while 21 (42%) expressed satisfaction. 6 respondents (12%)
said they were neutral towards the plan, 1 (2%) said they were dissatisfied, and 3 (6%) said
they were very dissatisfied.

49
 Table 4.15. Soft skill training

Particulars No. of Percentage

respondents
Highly satisfied 9 18%

Satisfied 8 16%

Neutral 18 36%

Dissatisfied 13 26%
Highly 2 4%
dissatisfied

Chart 4.15. Soft skill training

Soft skill training

40

35
36
30

25
26
20

15 18
16
10

Highly satisfied Satisfied Neutral Dissatisfied Highly

dissatisfied

INTERPRETATION:

According to the data in Table 4.15, only 18% of the 50 respondents were extremely satisfied
and 16% were satisfied with the organization's soft skill training. While 26% of respondents
were dissatisfied and 4% were highly dissatisfied, 36% of respondents were neutral, meaning
they did not have a strong opinion either way. This suggests that the company's soft skill
training programmer need to be more effective and of higher quality.

50
 Chapter 5

Finding:

1. The majority of respondents (58%) were either highly satisfied or satisfied with the ESI
scheme, while 30% were either neutral or dissatisfied, and 12% were highly dissatisfied.
2. Most of respondents (58%) were extremely satisfied with how the provident fund was used,
while a smaller percentage (10%) were extremely dissatisfied.
3. The 68% of respondents were either highly satisfied or satisfied with the company's
educational assistance, while 22% were neutral or dissatisfied, and 18% were extremely
dissatisfied.
4. A large percentage of respondents (66%) were satisfied or extremely satisfied with the
medical claim process, while only 14% were dissatisfied or extremely dissatisfied.
5. Over half of those who responded (46%) were dissatisfied or extremely dissatisfied with
the incentives provided by their organisation, while only 32% were satisfied or extremely
satisfied. This suggests that there is room for improvement in the organization's incentive
programmes.
6. The overwhelming of respondents (80%) reported being either very satisfied or satisfied
with their organization's team trips. Only a small minority (4%) were unhappy or extremely
dissatisfied.
7. It displays the satisfaction levels of 50 respondents with regard to working from home. Ten
(20%) of the respondents said they were extremely satisfied with their ability to work from
home, while fifteen (30%) said they were satisfied.
8. The satisfaction levels of the canteen food provided by the organization are relatively low,
with only 50% of the respondents being either satisfied or highly satisfied.
9. 70% of those surveyed expressed high or moderate satisfaction with the organization's
cafeteria. However, 14% of respondents claimed to be either unhappy or very unhappy with
the cafeteria.
10. Based on the data, 34% of the respondents were very satisfied with the cafeteria, while 36%
were satisfied, 16% were neutral, 8% were dissatisfied, and 6% were very dissatisfied.

51
11. Only a small percentage (2%) of respondents said they were dissatisfied or extremely
dissatisfied with the organization's flex timing policy, while the majority of respondents
(70%) said they were highly satisfied with it.

12. According to the data, 20% of respondents were extremely dissatisfied with the amenities,
20% were neutral, 16% were satisfied, and 22% were very satisfied.
13. Based on the data, 44% of respondents were satisfied, 16% were neutral, 6% were
dissatisfied, and 2% were very dissatisfied with the organization's programme for parents'
and children's health care.
14. The results of the data, 42% of respondents were satisfied with the organization's health
insurance programme, 38% of them had a high level of satisfaction, 12% had a neutral
opinion, 2% had a negative opinion, and 6% had a very negative opinion.
15. On the basis of the data, 26% of respondents were dissatisfied with the organization's soft
skill training, 4% were highly dissatisfied, and 36% were neutral. Only 18% of respondents
were extremely satisfied and 16% were satisfied. This shows that the firm's soft skill
training programmes need to be more effective and high-quality.

Suggestion:

1. The company should explore ways to increase satisfaction levels among the neutral or
dissatisfied respondents regarding the ESI scheme. This could involve better
communication about the benefits of the scheme, addressing any issues with the claims
process, and providing more value-added services.
2. Surveys or focus groups could be used by the organisation to determine what aspects of the
provident fund programme need to be improved. This might entail looking into ways to
improve the benefits offered or addressing issues with the fund's management.
3. To make sure that it is meeting the needs of the workforce, the company should review its
educational assistance programme. This might entail expanding the selection of pertinent
courses and training, enhancing the application procedure, or providing more funding.
4. The company should keep offering top-notch medical claim services while also looking for
ways to streamline the procedure and lessen the administrative burden on staff.
5. In order to better accommodate the needs and preferences of employees, the company
should think about modifying its incentive programmes. This might entail providing a
wider variety of incentives or more flexible choices.
6. Team outings should continue to be given top priority by the company as a way to foster
52
 camaraderie and improve team dynamics. To keep the trips interesting and new, this might
entail discovering brand-new locations or activities.

7. The business ought to think about providing more help and resources, like technology
access or online training opportunities, for workers who work from home. The company

needs to evaluate what it has to offer in the canteen and look for ways to raise the standard
and variety of the food. This might entail finding a new caterer or consulting with staff to
get their opinions and suggestions.
8. The company could look into ways to allay the worries of staff members who are
dissatisfied with the cafeteria, like by introducing more wholesome options or raising the
calibre of the food.
9. The company needs to evaluate what it has to offer in the canteen and look for ways to raise
the standard and variety of the food. This might entail finding a new caterer or consulting
with staff to get their opinions and suggestions.
10. The company could look into ways to allay the worries of staff members who are
dissatisfied with the cafeteria, like by introducing more wholesome options or raising the
calibre of the food. With a focus on addressing any areas of concern, the organisation
should continue to monitor and gather feedback on employee satisfaction with the cafeteria.
11. The business should keep providing flexible scheduling options while looking into ways to
enhance and broaden these policies in response to shifting customer demands and
preferences.
12. To increase employee satisfaction, the company should assess its amenities, identify areas
for improvement, and make the necessary adjustments.
13. The business should look into ways to enhance its parental and child health care
programme, such as by providing more comprehensive coverage or increasing the
availability of service providers.
14. The company should keep providing high-quality health insurance coverage while also
looking into ways to offer more customization and flexibility to meet the needs of the
workforce.
15. The business should make an investment in raising the calibre and efficacy of its soft skill
training initiatives, for instance by hiring more seasoned trainers or providing more
interactive and interesting training materials.

53
Conclusion:

The effectiveness of employee benefits is a critical issue for organizations in today's

competitive business environment. The provision of employee benefits can have a significant
impact on employee motivation, job satisfaction, and ultimately, organizational performance.
In this paper, we have examined the satisfaction levels of employees with various employee
benefits offered by their organization.

Overall, the data reveals that most employees are either highly satisfied or satisfied with
the employee benefits provided by their organization. However, there is still room for
improvement in some areas. For example, the satisfaction levels with the canteen food provided
by the organization were relatively low, with only 50% of respondents being either satisfied or
highly satisfied. Similarly, only 32% of respondents were satisfied or extremely satisfied with
the incentives provided by their organization.

To improve the effectiveness of employee benefits, organizations need to adopt a strategic

approach to benefits management. This involves identifying the specific needs and preferences
of employees and tailoring employee benefits packages accordingly. For example, if the
organization has a large number of young employees, it may be beneficial to offer more flexible
work arrangements such as telecommuting or flex-time. Similarly, if the organization has a
significant number of employees with children, it may be useful to provide more
comprehensive child care benefits.

Another way to enhance the effectiveness of employee benefits is to regularly assess

employee satisfaction levels and make changes as necessary. This involves soliciting feedback
from employees through surveys, focus groups, or other means and using the data to inform
future benefits decisions. Regular communication with employees about benefits is also critical
to ensuring that they are aware of the benefits available to them and how to access them.

In addition to the above strategies, organizations can also improve the effectiveness of
employee benefits by leveraging technology. This includes using online portals or mobile apps
to provide employees with easy access to benefits information, as well as using analytics to
track employee benefit usage and identify areas for improvement.

54
Annexure:

Questionnaire
Part-1 Demographic Profile
1. Age of the Respondents
Below 25 [ ] 25 - 35 [ ] 36 - 45 [ ] Above 45 [ ]

2. Gender
Male [ ] Female [ ]

3. Marital status
Single [ ] Married [ ]

4. Educational Qualification
Diploma [ ] Under Graduate [ ] Post Graduate [ ] Others [ ]

5. Monthly Income

Highly Highly
Benefits provided by organization Satisfied Neutral Dissatisfied
satisfied dissatisfied

Below 21000 [ ] 21000 – 35000 [ ] 36000 – 50000 [ ] Above 50000 [ ]

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 Part – 2 Effectiveness of Employee Benefits
1. ESI scheme
2. Provident fund
3. Education assistance
4. Medical claim
5. Incentive
6. Team outing
7. Job training
8. Work from home
9. Meals and snacks provided
10. Cafeteria
11. Flexi timing
12. Amenities
13. Children/ Parent health care
14. Health insurance
15. Soft skill training

Bibliography

 Human Resource Personal Management – K. Ashwatappa

 Human Resource Management - Gary Dessler
 http://www.mckinseyquarterly.com/ Nov 2004
 http://www.google.com
 www.studymode.com
 www.wikipedia.com
 www.visionplusindia.in

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