Compensation Management and Its Effect on Employees' Performance in an Organization: A study of cadbury Nigeria Plc Ikeja Lagos-Nigeria
- Dr. Patience Erigbe
- Ibafo IRPM 2022
- viii; 74pgs.
ABSTRACT This study examined compensation management and its effect on employees’ performance in an organization, a case study of Cadbury Nigeria Plc Ikeja-Lagos. The objectives were to ascertain the relationship between salaries/wages of employees and increase in output, to verify the relationship between employees, allowances/incentives and target achievement, to assess the association between employees’ fringe benefits and labour efficiency, to examine the relationship between workers social security and work monitoring/development. In view of this research, main emphasis has been made on concept, significance, reward and compensation, types of compensation and lastly concept of compensation and employees’ performance. The research employed the satisfaction causes performance theory and the performance causes satisfaction theory as framework. Primary data was used. The use of questionnaire was employed to gather necessary and relevant data from the respondents. The method was used in order to minimize the problem associated with data collection and to ensure that the results are visible and bias free as expected. Data collected were analyzed using statistical packages for social sciences (SPSS) Version 23. The age respondents were a total of three hundred and ninety which representing 46.4% male and 53.6% represents female which implies that there is no equal number of male and female who participated in this survey. The findings of this research showed that majority of the respondents 67.9% agreed, 23.8% strongly agreed while 8.2% disagreed that when employees’ salaries/wages are frequent, there is increase in output. Hence, majority strongly agreed that frequency of salaries/wages causes increase in output. Hypothesis 1 showed that there is no significant relationship between salaries/wages and increase in output, Hypothesis 2 revealed that there is no significant relationship between allowances/incentives and target achievement, Hypothesis 3 examined that there is significant association between employees’ fringe and labour efficiency, Hypothesis 4 showed workers social security has no significant effect on work monitoring/development. Employees must be managed properly and timely by providing best remuneration and compensation as per the standards. The lucrative compensation will serve the necessity for attracting the pre-eminent employees and helps in retaining them.