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Welfare Programs as a Strategy of Promoting Employees' Economic Growth and Work Productivity
Abstract
Many organizations apply the notion of employee welfare programs as a strategy of improving employee productivity, since work-related exertions could lead to deprived quality of work life for employees and a decline in performance. Welfare schemes promote economic development by increasing the efficiency and productivity with the underlying principle being making workers bestow their loyal services ungrudgingly in genuine spirit of cooperation. The welfare schemes improve the organizational relations and also enhance the productivity of the employees. The main aim of implementing the welfare measures in any organization is to secure the labor force by providing proper working conditions and minimizing its hazardous effect on the life of the employees and their family members. The chapter articulates the various employee welfare programs put into practice by the industrial and service organizations and its influence on the employees' economic growth and productivity, in both public and private sectors.
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