Compensation Management And Organizational Performance a Study Of Selected Pharmaceutical Companies In Awka, Anambra State.
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 9
Abstract
The realization of organizational objectives is in most cases achieved through the human resource asset and there is need therefore to enhance the commitment of employees to the organization. Hence identification of all possible factors that increase employee commitment is of utter importance. Indeed the compensation policy is an important element of human resource management. It influences decision of potential employee to join an organization and determines employer-employee relationship after employee joins the organization. The compensation policy should in addition encompass both monetary and non-monetary rewards paid to employee in exchange of the services rendered while taking into consideration employment contract, competence and skills. This study aimed at establishing the influence of compensation policy on employee commitment of selected pharmaceutical companies in Anambra state. Primary data was collected using selfadministered questionnaire and the data was analyzed by use of Pearson product correlation. The data was presented using simple percentage table. Generally, the study found that pay for performance policy was the popular compensation. It was also established that the compensation policy influences employee commitment owing to the level of relationship established between the variables and this led to enhanced performance, trust in management and strong relationship in the organization. Further, the cash rewards were reflective of individual skills and effort which included allowances for extra duties and responsibilities. The employees’ compensation included pension schemes; personal security through illness, health or accident insurance covers; safety in work environment, financial assistance for loans, purchase of organizational products and work life.
Authors and Affiliations
Dr. Ebele . M. Onwuka, Dr. Faith Onwuchekwa
Keywords
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- EP ID EP412828
- DOI 10.9790/487X-2009033647.
- Views 114
- Downloads 0
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