Espousal of Welfare Schemes: A Means for Employees' Satisfied Work Life with Reference to Pharmaceutical Companies

Espousal of Welfare Schemes: A Means for Employees' Satisfied Work Life with Reference to Pharmaceutical Companies

Chandra Sekhar Patro (Department of Management Studies, Gayatri Vidya Parishad College of Engineering (A), Visakhapatnam, India)
DOI: 10.4018/IJABIM.2017070103
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Abstract

Employee welfare is a prerequisite and critical factor for growth of any organization. The welfare facilities improve the organizational relations, and also enhance the competence and effectiveness of the employees. The employees' work life is vital, as they are the pillars of an organization. The main aim of implementing the welfare schemes in any organization is to secure the labour force by providing proper human condition of work and minimizing its hazardous effect on the life of the employees and their family members. The present study is an attempt to determine the various employee welfare schemes adopted by different private pharmaceutical companies, and its impact on the employee's satisfaction on work life.
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Review Of Literature

Labour welfare is an important facet of industrial relations, the extra dimension, giving satisfaction to the worker in a way that even a good wage cannot. With the growth of industrialization and mechanization, it has acquired added importance (Monappa, 1995). An employee cannot cope with the pace of modern life with minimum sustenance amenities. He needs added stimulus to keep body and soul together. Employers have also realized the importance of their role in providing these extra amenities to the employees. Employee welfare has been used by many organizations as a strategy of improving productivity of employees especially in the mobile industry since work related problems can lead to poor quality of life for employees and a decline in performance (Manzini & Gwandure, 2011). Welfare services can be used to secure the labour force by providing proper human conditions of work and living through minimizing the hazardous effect on the life of the workers and their family members. Employees are the assets of every organization; therefore, the needs of employee must be satisfied in order to meet the goals of the organization (Patro, 2012). Any organization would be effective only when there is high degree of co-operation between the employees and their management.

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