Select Currency
Translate this page

COMPENSATION MANAGEMENT AS A PREDICTOR OF ORGANISATIONAL PRODUCTIVITY

Format: MS WORD  |  Chapter: 1-5  |  Pages: 75  |  645 Users found this project useful  |  Price NGN3,000

GET THE COMPLETE PROJECT

COMPENSATION MANAGEMENT AS A PREDICTOR OF ORGANISATIONAL PRODUCTIVITY

 

ABSTRACT

The study critically explored the effects of compensation management on organisational productivity. Descriptive Survey Design was adopted in the study. A total number of eighty seven (87) copies of questionnaire were administered to the respondents during the study. Chi-Square (X2) test statistics was used to test the hypotheses in order to establish the relationship between the dependents and independents variables in each hypothesis. Data analysis was carried out at five percent 0.05 (5%) level of significance. The thrust of the study was to evaluate the role ofcompensation management in organisational productivity; vis-à-vis reward system, employment benefits and compensation policies. Three (3) hypotheses were tested; and the entire alternative hypotheses were accepted; as the result showed that compensation management is a significant determinant of organizational productivity; the findings also revealed that there is a significant relationship between reward system and employees’ commitment. The study recommended that organizations should provide a compensation package that provides a competitive edge required to attract the best skills in the labor market, to retain and motivate them.

 

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND TO THE STUDY:

The role of compensation in shaping the live of an organization cannot be overemphasized. Now, Compensation Management has been described as the development, implementation, maintenance, communication and evaluation of reward processes (Galanou et al., 2010). Ordinarily, the management of people at work is an integral part of the management process, put differently, managers need to understand the critical importance of people in their organizations so as to recognize that the human element and the organization are synonymous (Popoola et al., 2007). Therefore, it is imperative and morally worthwhile to compensate an employee with benefits if he merits it.

It is boldly put by Cascio (2003) that because of the importance that compensation holds for people's lifestyle and self esteem, individuals are very concerned about what they are paid, while at the other hand organizations are also concerned about what they pay because it motivates important decisions of employees about taking a job, leaving a job and on the job performance. Now in a bid to define the concept of compensation, Bernadin (2007) asserts that it refers to all forms of financial returns and tangible benefits that employee receives as part of employment relationship.

In the domain of human resource management, hardly is any issue more important, relevant, and crucial to an employee than what he receives in exchange for his labour services to the organisation. In present days, among manager’s tasks is to create an environment which motivates people to perform satisfactorily and to be a profitable asset, so that they can foster the organisation’s growth. Productivity and motivation are two inseparable brothers. Motivation has been described as an accumulation of different processes which influence and direct ones behaviour to achieve some specific goals (Danich and Usman, 2010). Motivation contains those psychological processes that cause the arousal direction and persistence of voluntary actions that are goal directed (Kreiter and Kinicki, 2004). Motivation is premised on certain intrinsic, as well as extrinsic factors which in collaboration results in fully committed employees (Galanou et al., 2010).

Salaries and wages administration as well as employees’ welfare, have been the cause of incessant disputes between the employees and employers of labour. The issues range from autonomy, bad working conditions, failure to fulfill agreements, to inadequate compensation. For instance, in Lagos State tertiary educational institutions, the complaints have been the unpaid salary arrears, high handedness of governing councils, late payment of monthly salaries and allowances. For employees to be effective and efficient on their job, it is imperative for organizations and their management to come up with incentives package that promotes employees’ job satisfaction. Hence, this study will investigate the impact of Compensation Management on Organisational Productivity, with a special reference to Airtel Nigeria Ltd.

1.2    STATEMENT OF THE PROBLEM:

Compensation no doubt is a prerequisite for the growth of any organisation or even a nation. Productivity suffers a setback if compensation is poor or inappropriately used. Some of the problems associated with reward management system include the following:

·         Unilateral fixing of wages and salaries:

·         Poor remuneration

·         Late payment of salaries and wages

·         Promotion without monetary rewards

·         ‘Lack of financial incentives

Owing to the high level of unemployment that has plagued the labour market, employers of labour have taken advantage of this menace by unilaterarilly fixing salaries and wages without the participation of their employees. Empirical researches also indicate that labour is largely underpriced since the numbers of job seekers are more than the number of available jobs, according to the National Manpower Board, (2009) the Nigeria labour market can barely absorb 10% of the over 3.8 million graduates turned out by the Nigeria educational system on a yearly basis.

In brief, late payment of salaries and wages, lack of financial incentives, promotion without monetary rewards are some of the dominant issues that mostly witnessed by employees in Nigeria. Sometimes, the employer proves very difficult to negotiate with. While the employee wants the highest and the best package, the employer would like to minimize cost as much as possible for profit maximization. Bad and depressed economic condition in Nigeria makes it difficult to fully implement a good compensation management system.

In organised societies, organisations regard an average worker as the root source of quality and productivity gains. Those organisations or nations do not look at capital investments but to employees, as the fundamental source of improvement (Ogunjimi et al., 2008). More so, there is an increased emphasis on people as a key source of competitive advantage, often being regarded as the key differentiator between organisations, and many managers try to comprehend the complexities of motivating people at work and provide them with fair reward so that they can gain employee commitment (Galanou, 2010). Most employers of labour in Nigeria disregard labour laws and edicts. Sometimes, this situation leaves the dejected employee with no other condition than to accept what is offered to him, otherwise, he will face unemployment consequences. Hence, this study will investigate the impact of compensation management on organisational productivity.

1.3    OBJECTIVES OF THE STUDY:

The major objective of this research is to investigate the impact of compensation management on organisational productivity. While other specific objectives include the following:

1.To examine the effect of compensation management on organizational productivity.

2.To investigate the relationship between reward system and employees’ commitment in Airtel Nigeria Ltd.

3.To determine the effect of compensation policy on industrial action in Nigeria.

4.To find out the implication of compensation management on employees’ job performance.

1.4   RESEARCH QUESTIONS:

The following are the research questions generated for this study;

1.Is there any impact of compensation management on organizational productivity?

2.What is the relationship between reward system and employees’ commitment in Airtel Nigeria. Ltd?

3.Is there any relationship between compensation policy and industrial action in Nigeria?

1.5    RESEARCH HYPOTHESES:

The researcher intends to test the following hypotheses at 0.05 level of significance.

Hypothesis One:

Ho:Compensation management is not a significant predictor of   organizational productivity.

HI: Compensation management is a significant predictor of organizational productivity.

Hypothesis Two:

Ho: There is no significant relationship between reward system and employees’   commitment in Airtel Nigeria Ltd.

HI: There is a significant relationship between reward system and employees’  commitment in Airtel Nigeria Ltd.

Hypothesis Three:

Ho: There is no significant relationship between  compensation   policy and industrial action in Nigeria.

HI:There is a significant relationship  between compensation policy and  industrial action in Nigeria.

GET THE COMPLETE PROJECT

Not What You Are Looking For?



For Quick Help Chat with Us Now!

+234 814 010 7220

+233 54 135 1187


Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on +234 814 010 7220 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 814 010 7220

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!