Determinants of Welfare Practices: A Study of Banking Sector Dr. Sharma Himani1,*, Dr. Mehta Shallu2,** 1Assistant Professor, Haryana School of Business, Guru Jambheshwar University of Science and Technology, Hisar 2Assistant Professor, Ludhiana Group of Colleges, Chaukimann, Ludhiana *Corresponding Author E-mail: himanisharma.gju@gmail.com
**shallumehta_2000@yahoo.com
Online published on 2 June, 2018. Abstract Welfare facilities hold a remarkable prominence in the banking sector. These facilities create a stimulating interest in the work force to produce their full capacity and pay a good return to the management in the long run. The main aim of this paper is to explore the major determinants of welfare practices in the banking sector. To achieve this aim, data has been collected from 524 bank employees from the different regions of Punjab state i.e. Majha, Malwa and Doaba. Factor analysis is used to find out the determinants of welfare practices. The results explored the seven determinants of welfare practices viz; perceived importance of welfare practices, imperative amenities, health care facilities, work life balance, educational facilities, employees’ involvement and loan facility. The conclusion reveal that the factors explored are complete blend of welfare practices prevailing in the banks. The results also depicts that ‘perceived importance of welfare practice’ is the most important factor, whereas, ‘work life balance’ is found to be the least important factor with respect to the welfare practices prevailing in the select banks. Top Keywords Welfare, Banking sector, Work life balance, Factor analysis. Top |