Employee Welfare Measures in Public Sector Banks (A Study with Reference to State Bank of India)

Employee welfare plays a crucial role in enhancing job satisfaction, productivity, and organizational loyalty, especially in service-oriented sectors such as banking. This study evaluates the welfare measures implemented by the State Bank of India (SBI) with specific reference to employees in the Anakapalli District. The research examines employee awareness, utilization, accessibility, satisfaction, and effectiveness of welfare schemes. Using a descriptive and analytical research design, data was collected through structured questionnaires and analyzed using statistical techniques such as Cronbach’s Alpha, KMO and Bartlett’s Tests, Principal Component Analysis (PCA), communalities, and variance extraction. The results indicate that the measurement scale is reliable (α = 0.745), and the dataset is suitable for factor analysis. Eight major factors were identified, explaining 77.05% of total variance, highlighting dimensions such as welfare awareness, HR support, adequacy of schemes, accessibility, and employee outcomes like morale and work-life balance. Findings show that although employees demonstrate awareness and satisfaction with welfare schemes, challenges remain in communication, procedural clarity, and equitable access. The study emphasizes the need for improved dissemination mechanisms, simplified procedures, and enhanced HR support to strengthen welfare effectiveness. Overall, the research underscores the importance of aligning welfare policies with evolving employee expectations to enhance satisfaction and organizational performance.