RESEARCH PROJECT ON -

―ANALYTICAL STUDY OF VARIOUS EMPLOYEE BENEFITS AND ITS

IMPACT ON THE EMPLOYEE PRODUCTIVITY‖

ON

" SECURITY AND INTELLIGENCE SERVICES PVT. LTD. "

FOR THE PARTIAL FULFILMENT OF THE REQUIREMENT

FOR THE AWARD OF

BACHELOR OF BUSINESS ADMINISTRATION

UNDER THE GUIDANCE OF: SUBMITTED BY:

Ms. Fatima Qasim Hasan Akriti Sharma (18GSOB1010232)

Priyanshu Singhal (18GSOB1010215)

Piyush Gupta (18GSOB1010181)

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 BACHELOR OF BUSINESS ADMINISTRATION

2018-2021

SCHOOL OF BUSINESS, GALGOTIAS UNIVERISTY

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 Certificate

This is to certify that the project report ―analytical study of various employee benefits and its

impact on the employee productivity on Security and Intelligence Services Pvt. Ltd.‖ has been

prepared by Akriti Sharma, Priyanshu Singhal, Piyush Gupta under my supervision and guidance.

The project report is submitted towards the partial fulfillment of 3 year, Full time Bachelor of

Business Administration.

Name & Signature of Faculty

Date

3
 Declaration

We, AKRITI SHARMA Roll No 18GSOB1010232, PRIYANSHU SINGHAL

18GSOB1010215, PIYUSH GUPTA 18GSOB1010181 student of School of Business,

Galgotias University, Greater Noida, hereby declare that the project report on

―ANALYTICAL STUDY OF VARIOUS EMPLOYEE BENEFITS AND ITS IMPACT

ON THE EMPLOYEE PRODUCTIVITY ON SECURITY AND INTELLIGENCE

SERVICES PVT. LTD.‖ is an original and authenticated work done by us.

We further declare that it has not been submitted elsewhere by any other person in any of the
institutes for the award of any degree or diploma.
Name and Signature of the student

Date

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 Acknowledgement

We have been able to prepare my report successfully and We acknowledge a special thanks
to all those people without whose support it was impossible to make the project report.

We would hereby take this opportunity to show my gratitude towards my mentor for what I
have learnt during my project. A good response, feedback and co-operation given by whole
staff helped out in gaining knowledge and solving my queries.

The successful completion of this project could not have been possible without the co-
operation and support of my faculty guide. I feel immense pleasure to thank Ms. FATIMA
QASIM HASAN MA'AM for making available all facilities in fulfilling the requirements
for the research work.

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CONTENT

S.No Particulars PAGE NO

1 Executive Summary 6

2 Introduction 9

• Company Profile

• Meaning Of Employee Benefits

• Employee Benefits

• Importance Of Providing Benefits the employees

• Characteristics

3 Literature Review 15

• Employee Benefits

• Its Impact On Employee Productivity

• Importance Of Employee Benefits

4 Research Problem 21

• Research Question

• Research Objectives

5 Research Methodology 22

• Types Of Research Design Used

• Data Collection Method And Form

• Sampling Design And Plan

6 Data Analysis And Interpretation 27

7 Limitations 35

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8 Conclusion 36

9 Appendix 38

• Data Collection Form

• Bibliography

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 EXECUTIVE SUMMARY

Maintaining healthy workplace relationships in an company is a requirement for effective

Organisation. One way to preserve good and stable workplace relationships within an
company is by adding lucrative incentives to any role and activity that each workplace of that
company performs Employee benefits that are the specific non-wage incentives given to
workers in addition to their regular salaries or employment cannot be ignored by an
organization's management, since an organization's human capital is the most valuable
resource. The new environment is highly competitive, and companies are facing challenges of
retention of workers regardless of scale, technology and business orientation. A good and
supportive partnership and bonding between workers and their organizations should be
established and sustained in order to resolve these restrictions. In order to reinforce this good
and productive relationship, workers will be encouraged to do their best by offering some
lucrative workplace incentives such as performance rewards, Christmas rewards, research
allowances, leave allowances, etc Any organization's human resources or workers are the
most important component, and they need to be motivated and convinced to accomplish
tasks. To achieve organizational goals, companies need to devise different approaches to
make workers happier and provide them with multiple opportunities to profit, adding value to
themselves and improving organizational efficiency. When workers are not happy with their
position or place of employment, they prefer to bring less effort into the workplace or transfer
with better job packages to other organisations. This can cost a company too much,
particularly if a competitor loses a key and very skilled staff.

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 INTRODUCTION

This research project talks about the various employee benefits that are provided by an
employer within the organisation

The main purpose behind this project is to relate as per how the benefits provided by
the employer effects and motivates the employee to work hard, get engaged ,keeps them
motivated and hence at the end of the day increases their overall productivity

In order to begin this project it is necessary for us to understand the basic terminology
behind the various terms that are being used in the research. We shall begin with by defining
the term employee benefits.

Employee benefits can be characterized as a type of compensation that employers pay

to workers in excess of regular salaries or wages. Workplace benefits come in several ways
and are an significant part of the overall employee compensation plan.

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About The Company

SIS provides security, facility management and cash logistics services, which are essential to
the functioning of a vibrant and healthy economy. We have emerged as a trusted leader
across these business segments in India and other geographies in the Asia Pacific region.
Over the years, we have gained deep insights about our key markets—India and Australia—
which have enabled us to leverage opportunities across geographies. Our brands have become
synonymous with quality solutions in these markets. With over three decades of experience,
in-house end-to-end bandwidth, and proficiency across sectors, we are addressing diverse and
dynamic business needs of our clients, while at the same time growing our market share. We
are deepening our customer relationships and scope of engagement through our integrated
solutions portfolio. Our single point of contact for multiple solutions allows us to drive high
customer retention. Our operational effectiveness stems from centralised key functions like
finance and sales, along with other administrative functions.

In March 2008, the SIS Group entered into an exclusive license agreement with
Service Master for the ‗Service Master Clean brand, and associated proprietary processes,
operating materials and know how in order to develop the facility management business in
India.
In FY2017 the SIS Group also acquired 78.72% of the outstanding equity shares of Dusters,
the fourth largest facility management service provider in India, in terms of revenues.

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Meaning of Employee Benefits

In addition to compensation in the form of wages and salaries, organisations provide workers with
various services and programmes known as employee benefits. Those facilities and initiatives were
historically known as fringe benefits. Now these have become part of compensation package hence
the word fringe in now not used and not appropriate even. Employee benefits are now seen as an
significant tool for attracting staff and increasing the organisation's bottom line.
Benefit plans play a critical role in preserving the quality of living for an employee when he is
suffering from a health condition. The organisations that provide these benefits to their employees
have improved image of caring employer These benefits are the advantages that accrue to an
employee apart from salary. These aren't performance linked.
According to Cockman, ―employee benefits are those benefits which are supplied by an employer to
or for the benefits of an employee, and which are not in the form of wages, salaries and time rated
payments.‖
Lets try and understand this better using an example:-
A common employee benefit is a retirement plan or plan Employers also contribute a small
portion of the employee's salary to the employee's retirement plan of choice. Typically,
employers match employee contributions up to 3 present. Retirement plans like 401(k)s and
IRAs are basically savings accounts that allow employees to save money tax free until they
retire. Pension plans are slightly different than retirement plans in that a pension plan is a
fund that makes regular payments to the employee indefinitely after they retire. Most
employers have stopped offering private pension plans because of the increasing cost.
Pension programs, such as education systems, are most generally found in government
organisations.
So why are employers willing to pay all this extra money to employees? Most
individuals can‘t afford to buy group insurance plans on their own. The same is true about
retirement.

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Common Employee Benefits:

Following are some of the benefits offered by employers to employees:

(1) Free lunch or lunch at subsidized rates offered to the employees.

(2) Free medical facilities to the employee and the members of his family.

(3) Employees are insured for life against accidents or illness. In India there is a provision for this
under Employees State Insurance Act.

(4) Provisions for retirement benefits such as provident Fund, gratuity, pension etc.

(5) Leave Travel Allowance scheme is implemented by many govt. and non govt. organisation
counts for paid holidays to the employees.

(6) The working women are given maternity leave for 90 days.

(7) Free education to the children of employees by providing educational allowance to the
employees. Scholarships to the meritorious students of the employees are also given. Free transport
service is provided to the school and college going students of the employees by the employers.
This service is also provided to the employees for attending their duties in the office or factories.
This service is provided freely in some companies and or at subsidized rates in other organisations.

(8) Housing accommodation is yet another benefit provided to the employees at subsidized
rates.

(9) In some organisations where highly qualified employees are required, for their education
study leave is granted. This is also a paid leave. In some cases company sponsors the
employee for higher studies and bears all the expenses of his education.

(10) Subscriptions for professional association is also borne by the employers.

(11) Recreational facilities are also provided by the employers

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Importance of Providing Benefits to Employees

What is the benefit? In Indian industry the word 'benefit' has long been in vogue. It is known
by different terms such as fringe benefits, income bonuses, extra incentives, non-wage
benefits, indirect benefits, secret fees, etc.

The phrase 'fringe benefits,' however, has become a catch word, and is more common
in practice. The two terms 'benefits' and 'fringe benefits' were taken as interchangeable and
synonymous in this way. Simply put, profit means non-financial, membership-based benefits
offered to employees. The few examples of benefits can allow us to better understand the
meaning of benefits

Belcher described benefits as "any compensation expense that is not directly related to
the productive effort, efficiency, service or sacrifice of employees.

Cockman defines employee benefits as "the incentives given by an employer to or for

an employee's incentives that are not in the form of salaries, wages and time-rated
compensation."

At the organisation level, the ILO has defined fringe benefits as follows:
"Wages are also complemented by additional cash benefits, the provision of medical and
other services, or in-kind payments that form part of the salary for the goods and services
expenditure. Furthermore, employees are typically granted incentives such as paid holidays,
low-cost meals, low-rent housing, etc. Such pay changes are preferred as fringe benefits.'

Fringe benefits can now be characterized as the additional benefits given to workers,
in addition to standard base pay and direct output-related variable rewards, i.e. financial
incentives. We claim, incentives are non-wage incentives that the company provides to its
workers. They reflect the employer's expense and the employee's cost savings.

Benefits vary in that they are non-financial and membership-based from benefits. In

other words, while bonuses are given to individual workers whose job (performance) is

higher than the ordinary, rewards are available to all workers on the basis of their

membership.

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 Originally used to describe the workplace perks, the catchword 'fringe benefits' is no
longer just 'fringe' as such. Now these so-called fringe benefits form a large part of the pay
and salary administration spending. For example, the money value of fringe benefits will
typically account for 40 per cent, according to an estimate. if not more, of the employee
remuneration in certain large organisations.

That is exactly why some people now nomenclature 'fringe benefits' as 'employee
perks and facilities.' Many writers here, too, have been trying to draw a line of differentiation
between benefits and services. According to them, the term 'benefits' refers to certain things
for which the employee can receive a direct monetary value. Holiday pay, pension, medical
insurance, etc., are examples of such benefits.

On the other hand, the word 'services' applies to those things which cannot be
ascertained in monetary terms. Examples of these items include accommodation, medical
tests, legal aid, sports, etc. However, both words were used as interchangeable or
synonymous, viz., advantages and services.

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 LITERATURE REVIEW

Employee benefit activities have now become a common trend in any organization's overall
personal policy. The activities involved in offering extra benefits to workers to supplement
their salaries at the employer's expense. They are important to both the employees and the
organization. From the employees' perspective it is seen that a successful employee
compensation operation would encourage the employee to work hard and boost their overall
attitude to reward the company and increase their production level. Yet these benefits reflect
an extra income, additional protection or more favorable working conditions for the
employee that do not require any actual effort.

In business organization, labor employers saw the employee benefit as the willingness

of the subordinate to contribute more to the achievement of the organizational target, to

encourage industrial relations, in order to sustain the pace of industryGood employee services

practices are often believed to inspire and encourage workers to work hard, thus rising their

productivity level and improving the general employee morale, as well as improving the

organization's public profile. Erbasi (2012) defined fringe benefits as compensation in

addition to direct wages or salaries, such as company car, house allowance, medical

insurance, paid holidays, pension schemes,subsidized meals. Some fringe benefits are

regarded part of a taxable income. Employee are directly influenced by nature and quality of

benefit offered because they compare themselves with their counterparts in other

organizations. Therefore, every organization should bear in minds that for them to achieve

the objectives, the employee benefit should be adequately competitive and focused towards

solving the real needs of the employees.

Campbell (2010) came up with three core determinants of employee

performance, which he classified under declarative knowledge, procedural knowledge and skill
and motivation. He noted that these three are the core of any employee performance, as one
should have the complete knowledge about the task at hand. They must possess the required

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skills to perform the task and should have complete understanding of how to do it and lastly,
have the level of motivation to perform the task with maximum will and efforts.

Ngatia (2015) conducted research on fringe benefits and their impact on employee‘s job
satisfaction and concluded that useful reward package has a major impact on the employee‘s job
satisfaction and performance. When employers give more attention to non-financial reward tools
such as work-life balance, career advancement, educational benefits the employee may recognize
the organization as helpful and supporting.

Dambisya (2017) investigated that the use of nonfinancial incentives for health worker leads
to satisfaction of employees. This study was conducted in health sector and found that non-
financial rewards affect the performance of an individual

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Employee Benefits

In addition to compensation in the form of wages and salaries, organisations provide workers
with various services and programmes known as employee benefits. Those facilities and
initiatives were historically known as fringe benefits. Now these have become part of
compensation package hence the word fringe in now not used and not appropriate
evenEmployee benefits are now seen as an significant tool for attracting staff and increasing
the organisation's bottom line.
Benefit plans play a critical role in preserving the living conditions of an employee while he
or she is suffering from health issues. The organisations that provide these benefits to their
employees have improved image of caring employer. Such benefits are the advantages that
accrue to an employee in addition to wages. These aren't performance linked. According to
Cockman, "employee benefits are benefits that an employer gives to or with an employee's
benefits, and these are not in the form of bonuses, bonuses, and time-rated compensation."
As C.B. tells Mamoria, the workplace benefits are "primarily a way to ensure, sustain and
raise the employee's profits. It is a benefit that complements the ordinary income of a
worker and is beneficial to them and their families to the degree that it increases their
retirement significantly.‖

Its impact on employee productivity

Everybody is working in anticipation of certain benefits and one of them is money. To

understand the effect of workplace benefits on employee engagement and productivity,
questionnaires were sent to organizations that had employee benefit programs implemented.
Some of the main findings of this study are: employee benefit programs have a greater effect
on job satisfaction than on productivity; monetary benefit programs are highly regarded by
both managers and employees There is a cognitive divide between management and worker
on the value of compensation packages for workers; different genders have different demands
for compensation; unmarried workers, rather than married employees, believe that benefits
for employees have a greater effect on job performance. Workers with varying levels of
experience and responsibilities perceive different effects on workplace compensation; and
employee benefits packages have greater effect on work performance for younger employees.

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 Employee benefit is a non-financial rewards that many organization offers as

incentives to attract and retain talented employees. According to Human Resources out

sourcing firm MC-Global, employee benefit services includes good health, benefits, wellness,

information, advice and support services. Employee benefit is anything done for the comfort

and improvement of employees and it is provided over and above the wages. The objectives

of the research is to find out the impact employee benefit services and activities have on the

loyalty and satisfied labour force for the organization, how the benefits , company gives to its

employees affects the company. In the course of the study a review of related literature has

now given. The sources of the data will include both primary and secondary data. The

instrument used by the researchers in data collection would include the administration of

questionnaires, interviews, observations. Employees' benefits, such as enhanced physical and

mental health for employees, loan payment, transportation, accommodation, medical,

Christmas and New Year etc. In conclusion, the research believe that with the findings

obtained in the research, should be able to identify the problem and possible alternative

solution of the observed problems.

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Importance of Employee Benefits

It is necessary to ensure the commitment and sense of belonging to the organisation of the

employees. This is being attained by the organisations through floating some novel schemes

for the benefit of the employees.

The following objectives are achieved through benefit and service

programmes:

1. To attract and retain the best employees in the organisation.

2. To fulfil the needs of the employees which he himself cannot provide such as
protection against accidents and hazards?

3. To provide employees with such benefits which are prevailing in similar

organisations.

4. Special privileges are provided to the employees for holding a special position in the
organisation.

5. Some benefits are provided at the behest of the unions first to maintain good
harmonious industrial relations.

6. Any special compensation given to workers to raise their living conditions in order to
improve the quality of their working lives.

7. Providing benefits to the employees enhances the image of the organisation in the
eyes of the people in general and the consumers in particular.

8. By providing benefits to its employees the organisation fulfill their social

commitment as contained in the Article 43 of the Indian constitution which states, ―—
All workers should be given a living wage, conditions of work ensuring decent
standard of life and fuller enjoyment to ensure social and cultural opportunities.‖

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9. Benefits protect precious human resources during bad phases of life or period of
contingencies of life Such benefits hold the human capital in optimal conditions,
while rising production. This is must for increase in growth of economy of the
country.

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 RESEARCH PROBLEM

Designing and executing a decent benefit plan for the employees is a major obstacle for most
organizations. A research by Cassio showed that most companies in developed countries do
not properly plan and enforce their workplace compensation packages; hence employees find
it difficult to really believe they are benefiting from their workplace. Poorly designed benefit
plans that do not actually motivate employees to put in their best at work is a major issue in
corporate today.

Organizations that do not develop their employee compensation programs based on

their employee's personality and nature continue to waste money and efforts; as employees
are not motivated to work hard if certain benefit packages covered by the organization do not
speak to their needs.

An average worker places more importance to the benefits he or she will derive from
working, therefore they are very concerned about what they are paid. Because of the
significance that workplace benefits have for people's lifestyle and self-esteem, workers are
very concerned about what they are paid as compensation-a fair and reasonable workplace
benefit, while wise employers are concerned about what they are paying as it motivates
important employee decisions particularly when it comes to work delivery and results.

Implementation of workplace benefit is often a significant corporate obstacle, as employee

benefits are often postponed or ruled out by an organization's management due to cost-

reduction steps. This has caused significant corruption, high turnover of workers and poor

morale / productivity of workers

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 RESEARCH QUESTIONS

1. What employee benefits exist in SIS Pvt. Ltd.

2. What processes are involved in drafting employee benefit policies, and what factors are
considered when planning and implementing these policies?
3. What effects have your company‘s employee benefit packages had on your job
performance?

RESEARCH OBJECTIVES

1. To identify employee benefit packages offered to the employees of Security and

Intelligence Pvt. Ltd. (SIS).
2. To evaluate the design and implementation of employee benefit plans/ policies of SIS.
3. To examine the effects of identified employee benefit packages on the overall performance
of the employees of SIS.
4. To suggest better employee benefit packages and plans to the management of SIS.

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 RESEARCH DESIGN AND METHODOLOGY

RESEARCH DESIGN

The next stage of this project is to choose an appropriate research design which would suit
my research project and can help me in finding the results that I desire. There are a lot of
research designs methods that a person can use in such kind of project but I choose the
following as they are more suited for my research :-

The first research design chosen is

1) CROSS SECTIONAL DESIGN

Cross sectional design is used in situations where there are no time dimensions involved and
the result is based on two or more groups or sections.

The reason I choose to use this design is because cross sectional research is best in
measuring differences between a group of people and in this research I too want to compare
the viewpoint of people who are happy with the employee benefits they are receiving with the
viewpoint of people who are not satisfied with the employee benefits they are receiving from
their respective organization.

Cross-section studies are capable of using data from a large number of subjects and, unlike
observational studies, are not geographically bound.

2) SEQUENTIAL DESIGN

Sequential research is that which is carried out in a deliberate, staged approach [i.e. serially]
where one stage will be completed, followed by another, then another, and so on, with the
aim that each stage will build upon the previous one until enough data is gathered over an
interval of time to test your hypothesis. The sample size is not predetermined. After each
sample is analysed, the researcher can accept the null hypothesis, accept the alternative
hypothesis, or select another pool of subjects and conduct the study once again. This means
the researcher can obtain a limitless number of subjects before finally making a decision
whether to accept the null or alternative hypothesis.

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The reason why I have used a sequential deign are-

1. The researcher has a limitless option when it comes to sample size and the sampling
schedule.

2. Due to the repetitive nature of this research design, minor changes and adjustments
can be done during the initial parts of the study to correct and hone the research
method. Useful design for exploratory studies.

3. There is very little effort on the part of the researcher when performing this technique.
It is 0generally not expensive, time consuming, or workforce extensive.

4. Because the study is conducted serially, the results of one sample are known before
the next sample is taken and analysed.

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 DATA COLLECTION METHOD AND FORM

Data collection medium –

The data collection has been done using a self-administered form created by using the
services provided by the google forms. The form was designed using the research designs
mentioned earlier in this project and then was circulated through email.

Questionnaire –

1. The first four questions comprises of basic questions such as name, age, job profile,
company in which they were employed at etc. to know what kind of benefits they
must have got.

2. The last question was asked to know that what kind of benefits employees want other
than the decided benefits which they always get , so that we could realise the
requirements of the people who are working with the particular organization there
needs so that they could work efficiently which ought to help in increasing
productivity and turnovers of the organizations.

3. Some questions were asked to know if the employees are happy with their regular
benefits or not to know if it is actually helping the employees in their working
conditions because if it doesn‘t seem to work the employees will lose interest in their
job and it could actually can make suffer the whole organization.

A copy of the questionnaire is provided in the appendix

Sequencing of questions –

The questions are divided into 3 sections one after the other with the sequencing as –

1. Basic information
2. Questions regarding if they are happy with the benefits provided to them or not
3. Question to know the requirements of the people

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Kinds of scales used –

Open Ended: -

Allows respondents to reply in their own words & is hard to translate and tabulate.

Close Ended: -

Allows respondents to reply in their own words & is hard to translate and tabulate..

Multiple choice questions –

Where respondent is offered more than two choices.

Importance scales –

A scale that scores any attribute's importance.

Rating scale –

A scale from "extremely pleased" to "extremely unsatisfied" and "very slow" to "very
effective"

SAMPLING DESIGN AND PLAN

1. A sample of 50 individual responses has been collected for this research

2. The sample consists of employees working in various organizations situated in the

Delhi and NCR region

3. The response rate has been 100%

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 DATA ANALYSIS AND INTERPRETATION

Table 1

Are knowledgeable with the various benefits employees gain from an

organization?

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes
50 100.0 100.0 100.0

Table 1 shows responses of respondents when asked if they knew and

understood the various benefits employees can derive from an organization. All
respondents indicated that they have knowledge of employee benefits. This
clearly shows that the respondents are qualified for the study and they can
clearly evaluate the effects of employee benefits on the productivity levels.

Table 2

Does your organization provide its staff with benefits and incentives?

Cumulative
Frequency Percent Valid Percent Percent
Valid yes
50 100.0 100.0 100.0

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Table 2 shows responses on whether the respondents used for the study are
provided with benefits/incentives from their organization. All 50 respondents
representing 100% indicated ‗Yes‘. This clearly shows that employees of SIS is
provided with employee benefits/incentives.

Table 3

If 'Yes' what benefits does your organization provide its staff

with?
Frequenc Valid Cumulative
y Percent Percent Percent
Valid Performance
16 24.0 24.0 24.0
Bonus
Paid Education
16 24.0 24.0 48.0
Leave
Allowances 8 32.0 32.0 80.0
Christmas bonus 4 16.0 16.0 96.0
Car loan 6 4.0 4.0 100.0
Total 50 100.0 100.0

Table 3 highlights various employee benefit or incentives given to respondents

used for the study. 16 respondents representing 24% indicated that they are
given performance bonuses, another 16 respondents representing 24% also
indicated that they are given paid education leaves, 8 respondents representing
32% indicated that they being given allowances, 4 respondents representing
16% indicated Christmas bonus, while the remaining 6 respondent representing
4% indicated car loan as a benefit.

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 Table 4
Have you benefited from the above stated benefits

Cumulative
Frequency Percent Valid Percent Percent
Valid yes 50 100.0 100.0 100.0

Table 4 shows responses gotten on whether the respondents have benefited from
the above stated incentives given by their organization. All respondents
representing 100% indicated that they have benefited from the above stated
employee benefits.
This clearly shows that SIS Pvt. Ltd. takes the welfare of its staff at heart. For
all respondents to benefit indicates that employees are adequately motivated in
the organizatio

Table 5

Are the benefits given to every category of staff in your organization?

Cumulative
Frequency Percent Valid Percent Percent
Valid no 50 100.0 100.0 100.0

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Table 5 shows categories of staff that receive incentives from the organization.
All 50 respondents representing 100% indicated that benefits are not given to
every staff in the organization. This implies that there is no uniformity in the
distribution of incentives in the organization. This can lead to chaos and low
performance by some fraction of employees who do not benefit directly from
the organization.

Table 6

If 'No' which category of staff are exempted from these benefits?

Frequenc Valid Cumulative

y Percent Percent Percent
Valid Contract Staff 17 28.0 28.0 28.0
Casual Workers 8 12.0 12.0 40.0
IT Students and
25 60.0 60.0 100.0
Corpers
Total 50 100.0 100.0

Table 6 indicates that 17 respondents representing 28% indicated that contract

staffs of the organization do not receive incentives from the organization. 8
respondents representing 12% indicated that casual workers do not receive
incentives while the remaining 25 respondents representing 60% indicated that
IT students and corpers do not benefit from the company.

This clearly shows that there is no uniformity in the reward systems of SIS Pvt.

Ltd.

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 Table 7
Who designs your employee benefit plans?

Valid Cumulative
Frequency Percent Percent Percent
Valid Human Resource
Manager 50 100.0 100.0 100.0

Table 7 shows the personnel responsible for drafting employee benefit plans in
SIS Pvt. Ltd. All respondents representing 100% indicated that the human
resource manager is responsible for drafting the employee benefit policies and
procedures.

Table 8

In your opinion are there challenges facing the design and implementation
of these employee benefit policies?

Cumulative
Frequency Percent Valid Percent Percent
Valid yes 50 100.0 100.0 100.0

Table 8 depicts responses on whether there are challenges facing the design and
implementation of employee benefit policies in the organization. All 50
respondents representing 100% indicated that there are challenges facing their
employee benefit policies. This clearly shows that the employees are not
satisfied with the employee benefit policies of the organization.

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 Table 9
If 'Yes' what challenges face employee benefit policies in your
organization?
Cumulative
Frequency Percent Valid Percent Percent
Valid uniformity
problem 28 32.0 32.0 32.0

delay in execution 14 44.0 44.0 76.0

not enough 8 24.0 24.0 100.0
Total 50 100.0 100.0

Table 9 shows various challenges identified by the respondents facing employee

benefit plans in their organization. 28 respondents representing 32% indicated
that uniformity problem is a challenges, 14 respondents representing 44%
indicated that delay in execution is a challenges, while the remaining 8
respondents representing 24% indicated that the benefit packages provided for
employees are not enough. This clearly shows that delay in paying employees
their allowances and incentives is a major challenge in the organization.

Table 10

In your opinion do you think employee benefits have effect on employee

productivity?

Cumulative
Frequency Percent Valid Percent Percent
Valid Yes
50 100.0 100.0 100.0

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This table shows responses on whether employee benefit has effect on
employee productivity. All respondents representing 100% indicated ‗yes‘
employee benefit has effect on employee productivity. This clearly shows for
fact that employee benefits have effect on employee productivity as majority of
the respondents asserted to this.

Table 11

Do these benefits affect the level of your performance?

Cumulative
Frequency Percent Valid Percent Percent
Valid yes 50 100.0 100.0 100.0

Table 11 shows responses gotten from respondents with regards to whether

employee benefits affect level of performance of employees. All 50 respondents
representing 100% agreed that employee benefits affect the level of
performance of employees.

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 Table 12

If Yes how?
Frequenc Valid Cumulative
y Percent Percent Percent
Valid Brings about more
efficiency in me 15 20.0 20.0 20.0

Makes me work
13 12.0 12.0 32.0
harder
makes me more
productive for the 12 28.0 28.0 60.0
organization
i can do extra work
9 36.0 36.0 96.0
for the company
Punctuality 1 4.0 4.0 100.0
Total 50 100.0 100.0

Table 12 highlights various impacts employee benefits had had on the

performance of the respondents. 15 respondents representing 20% indicated that
employee benefits they enjoyed have brought about more efficiency in their
jobs, 13 respondents representing 12% indicated that it has made them work
harder, 12 respondents representing 28% indicated that employee benefits have
made them more productive to the organization, 9 respondents representing
36% indicated that it has made them put extra work for the organization, while
the remaining 1 respondent representing 4% indicated that benefits derieved
from the organization has made him/her punctual.

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 LIMITATIONS

1. The limiting of benefits to a maximum percentage of an income in disability income

plans

2. In addition to reducing amount of benefits paid by the employer , a maximum

percentage also minimizes the possibility of feigned and unnecessarily prolonged
prolonged disabilities

3. 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

4. According to the question 1 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

5. 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.

6. The cost associated with health insurance is rising day by day which in turn are
increasing the turnover rate of the company.

7. If the cost increases the company for the compensation forces the employees to give
more money to accommodate their plans in the budgets.

8. When the company is unable to afford the premium rise, the employee will be forced
to move to a new insurance policy which will take a long time to find a suitable
policy and then invest in it from the very beginning.

9. Certain health benefit programs may provide a lawyer's support in ensuring that
workers are covered and legal expenses and other such costs included

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 CONCLUSION

The benefit would make the workers perform well and stick with the company they are
affiliated with for a long time. This strategy of offering better workplace benefits helps to
demonstrate solid benefits to the workplace so that it helps to demonstrate to the company
that they give ample deeds to satisfy their employees.

This kind of creates corporate cohesion and builds a partnership that states that the
corporation has the power to reward its staff or fresh talent by offerings. The government is
also helping to make this system compulsory in different companies to improve employee
economic protection.

It can be inferred that the key factors for employee turnover are incentives for external
development and advancement, salaries, working conditions, job timings / shifts, relationship
with managers, company venue, ability to use kills and work load.

Furthermore, by keeping the selection process fair and open, management can
monitor the turnover rate within the organisation. If the manager is more available to the
workers, they can continue to function in the company. The participation of staff in decision-
making increases their self-esteem and enables them to continue working within the
organisation.

Employees often appreciate non-financial incentives which they earn, such as

management's appreciation of their success. A fair and consistent evaluation of results may
be a major factor affecting the decision of the employees to either stay or leave the
organization.

Thus employee turnover is a controllable factor and the management should make
efforts to retain the employees.

Employees leave the organization more for internal reasons within the organization
and less for external reasons or their own personal reasons, according to managers and
employers This can also be concluded that they are controllable, because most of the causes
for employee turnover come from within the organisation. If the organization or management

36
is making an effort to adjust or improve the company's HR policies then they will be able to
better monitor employee turnover.

This can also be argued that they are controllable, as most of the causes of employee
turnover come from within the company. If the organization or management makes an effort
to change or strengthen the HR policies of the business so they will be able to better track the
turnover of the employees.

Additional findings include: supervisors view pay as the key factor behind employee
turnover. Managers also claim that the environment at the workplace greatly affects the
organization's employee turnover. The majority of managers assume workers quit because of
the manager's style of service. For lower employee turnover, they need to build a working
relationship and positive interaction with the employees.

APPENDIX

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Data collection form

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Plagiarism Statement: - I confirm that this assignment is mine and my group member own
work, is not copied from any other person's work (published or unpublished), and has not
previously submitted for assessment either at Galgotias University or elsewhere. I confirm
that I have read and understood the University regulations on plagiarism.

42
 BIBLOGRAPHY

1. https://www.projecttopics.org/employee-benefits-and-its-effect-on-employee-

productivity.html

2. https://content.wisestep.com/advantages-disadvantages-employee-benefits/

3. https://shodhganga.inflibnet.ac.in/bitstream/10603/3705/13/13_chapter%203.pdf

4. https://www.virginpulse.com/employee-benefits/

5. https://shodhganga.inflibnet.ac.in/bitstream/10603/93202/16/16_conclusions.pdf

6. https://www.google.com/forms

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