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COMPENSATION
ADMINISTRATION: ITS EFFECT ON THE PERFORMANCE OF WORKERS
Chapter One
Introduction
1.1 Background of the Study
The issue of
pay is critical in the contract of employment, which essentially is a double
input –output exchange process. It is the very basic of any contractual
relationship at work. The centrality of work place conflict often centres on
the issue of pay.
Compensation
is one of the elements of increasing and maintaining productivity and morals. It
is also a course a prime factor in attracting and peeking good employees.
Compensation
administration is therefore one of the strategic tools employed by companies to
attract the retain qualified employees and contribute a large chunk to the
organization expenses. It examines the means of rewarding and motivating
employees for efforts toward the attainment of the organization goals.
Compensation is a systematic approach to providing monetary and non-monetary
employees in exchange for work performance. Basically, compensation enables employees to maintain a
reasonable standard of living. Beyond this, it provide a tangible measure of
the value of the employees to the organization.
In practical reality, to set-up a successful
compensation administration system, the administration must take certain
decision on the wages level wages structure and individual wages determination.
Economically,
man works for money and the money is used more directly to satisfy his needs,
usually, physiological, for purchasing foods for shelter and for acquiring
other good things of life. As a matter of fact money gives status and a nice
saving account as well as a feeling of security.
1.2 Statement of the Problem
The cause of
the study is in term of the determination of the effect of compensation
administration on workers performance. Since compensation administration aids
in the performance of an organization, it has to be treated well, the study
will therefore endeavour to find out if compensation administration aids in the
performance of an organization.
Prior to the
major problem stated above, the following are specific problems questions that
would be investigated.
1. Can lack of compensation administration
bring about commitment of workers?
2. Can compensation
administration lead to improve workers productivities?
1.3 Aim and Objectives of the Study
The main aim
of this research work is to examine the effect of compensation administration
on workers performance.
Others objectives which this research
would try to achieve are as follows:
(1) To know
whether compensation administration has been the actual tools used for
improving performance employee.
(2) To know to external of relationship between
workers compensation and their performance.
(3) To know
the effectiveness of performance of workers through compensation chains.
1.4 Research Questions
At the
completion of this research the following cogent research question must have
been satisfactorily provided answers to.
(i) Does compensation
administration affect on workers performance?
(ii) How does compensation
administration affect workers productivity on Ijebu North Local Government?
(iii) Does compensation administration
really examines the means of rewarding and motivating employees for their
effort towards the attainment of the organization goals in Ijebu North Local
government.
1.5 Research Hypothesis
In the
course of this research work the following hypothesis will be tested.
Ho: Compensation administration has no
significant effect on workers performance
Hi: Compensation administration has
significant effect on worker’s performance.
1.6 Methodology of the Study
This
methodology of the study bothered on method adopted for used in carrying out
this research project under the following heading.
(i) Source of Data: that makes used of both primary and secondary
data of gathering information.
(ii) Method of Data Collection: That is
used on this study is questionnaires, which will be administered out of the target
population under study.
(iii) Method of Data Analysis: This study
will analysed through the use of
frequency distribution, simple percentage and chi-square method.
1.7 Scope of the Study
Due to time
and financial constraints, this study was confined to the operation of Ijebu –
Ode North Local Government (INLG). However in view of the fact that INLG is one
of the leading local government in Ogun State, it is hoped that we will cover
almost the entirely of compensation administration and method of administering
compensation in INLG. This research work will cover the period of six years
(2003 -2009).
1.8 Limitation of the Study
This study
is basically limited to INLG in Ogun State, Nigeria. The attitude of staff of Ijebu – North Local
government, not given total co-operation when questionnaires are administered
for fear of being quoted or misrepresented.
The research will require spending
a lot of money for processing the data collected.
Time constraint will also be a
limitation because the submission of the concluded work is fixed therefore the
work-would have to carried out with in a short times. Despite the constraint, the research promises to be consistent,
reliable and dependable for further research work.
1.9 Justification of the Study
The
importance of this research work is to find out how well compensation administration would be utilized
as an instrument to improve job
performance and better work condition’s for employees in an organization.
However, it
has been seen that after various evaluation on the different theories of
motivation it is with convincing that compensation through monetary incentive
and non-monetary incentive has been the primary sources of enhancing workers
performance in an organization and hence will help to solve all problem
relating to employees performance in the organization.
1.10 Definition of Terms
i.
Compensation:- includes all rewards individual receive as a result of their
employment. As such, it is more that monetary income.
ii. Pay:- the monetary that a person is paid for
performing job, that it direct financial compensation .
iii. Benefit: Additional financial benefits other than
basic pay such as paid holidays, medical insurance and many more.
iv. Non-Financial:-
Non-monetary rewards that an employee may receive such as enjoyment of the work
performed and a working environment and prestige.
v. Salary: is a fixed periodical payment to a non-manual
employee it is usually expressed in annual terms implying a relatively
permanent employment relationship through normally paid monthly interval.
vi. Wage: A wage in the payment
made to manual work. It is nearly always expressed as a rate per hair.
vii. Incentive:- it is used to
describe wage payment plans which tie wages directly to productivity standard.
viii. INLG: Ijebu – North Local
Government.
1.11 Organization Of The Study
This research work would be
arranged into five chapters starting with an introductory chapter, statement of
the problem, objective of the study, research question, scope of the study,
limitation of the study, justification of the study, research hypothesis,
definition of term and organization of the study.
This would followed by literature
review and theoretical framework enclosed in chapter two, chapter three will be
devoted to the methodology of the research study with the study are a while the
fourth chapter will deal with data presentation analysis and interpretation of
result, finally the study will end with the summary of the study conclusion and
recommendation of policy while will arrange in chapter five.
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