What is Efficiency Theory

In the present competitive business environment, it is essential for the management of any organization to precisely manage the welfare services to be provided for their employees. An organization is certainly a place where employees' and employers try to get the maximum from each other. Both, there can be lot more if and when they work together as partners in an organization, and if they have compassion of understanding of each other problems, which is the basic problem in employee welfare. The extreme logic in the wake of providing welfare services is to create proficient, healthy, loyal and satisfied labour force for an organization. The aim of the chapter is to articulate the welfare services administered by the organizations to the employees and their effect on the employees' efficacy and work life. It also examines the various principles and theories of welfare along with measures to improve welfare facilities in the organizations.