Report on Employee Benefits
Table of Contents Topic Page Number 1. Profile of AB Bank 6 2. Organizational Objectives 9 3. Employee Objectives 9 4. Employee Benefit 10 5. Categories of Employee Benefit in AB Bank 10 6. Required or Mandatory Security 10 7. Provident Fund 11 8. Holiday Pay- 11 i. Vacation 11 ii. Leave of Absence 11 9. Health and Insurance Benefits- 12 i. Life Insurance and Auto Insurance 12 10. Transport Facilities 13 11. Loan 13 12. Bonus 13 13. Recreation Facilities 13 14. Neat and Clean Working Environment 13 15. Non-financial Benefits- 13 i. Stock Benefits 13 ii. ESOP (Employee Stock Ownership Plan) 14 iii. Educational Benefit 14 iv. Cafeteria Plan 14 16. Reasons of Providing so many Benefits 14 17. Comments and Recommendation 15
Executive Summery
This report is on the employee benefits of AB bank. Employee benefits are various non-wage compensations provided to employees in addition totheirnormal wages or salaries.
AB Bank commits to nation to take a lead in the Banking sector through not only its strong financial position, but also through innovation of products and services. It also ensures creating higher value for its respected customers and shareholders. The bank has focused to bring services at the doorstep of its customers, and to bring millions into banking channels those who are outside the mainstream banking arena. This bank is serving their employees to fulfill the employee’s need. Young employees tend to favour benefits that can be frequent or immediate use such as vacation days, holydays, and flexible working hours. Older employees are usually security conscious, preferring life insurance and retirement related benefits. AB bank’s purpose of giving the benefits is to increase the economic security of employees. All
Executive Summery
This report is on the employee benefits of AB bank. Employee benefits are various non-wage compensations provided to employees in addition totheirnormal wages or salaries.
AB Bank commits to nation to take a lead in the Banking sector through not only its strong financial position, but also through innovation of products and services. It also ensures creating higher value for its respected customers and shareholders. The bank has focused to bring services at the doorstep of its customers, and to bring millions into banking channels those who are outside the mainstream banking arena. This bank is serving their employees to fulfill the employee’s need. Young employees tend to favour benefits that can be frequent or immediate use such as vacation days, holydays, and flexible working hours. Older employees are usually security conscious, preferring life insurance and retirement related benefits. AB bank’s purpose of giving the benefits is to increase the economic security of employees. All