JOINT STOCK COMPANIES

LABOUR WELFARE Includes those elements of compensation other than wages which are significant when initially considering employment and in the ongoing evaluation of ones welfare on the job.

Monetary nature: retirement benefits, insurance benefits & investment plan Non- Monetary Plan : position, title, office environment, parking spaces etc.

OBJECTIVES OF LABOUR WELFARE It makes the plant personnel a healthier, sounder thinking & more forward-looking group. Contribute to the maintenance of employee morale & loyalty. Maintain an employees favourable attitude towards work & environment. Serve to attract and keep a competitive work force.

Serve to maintain some degree of peace with the organized labour union. Promote good public relations. Encourage employees and promote good relations between employees and employers thereby increasing production, quality and profit.

METHODS TO INCREASE LABOUR WELFARE Economic – insurance, retirement and pension plans, health & accident, credit unions, paid holidays, profit sharing Recreational Methods – sports, social get- togethers, special interest groups such as athletics, etc. Facilitative such as housing, educational facilities, transport, medical services, canteens etc.

INDUSTRIAL FATIGUE Hours of work Working days of a week Nature of work Working conditions