The Effect Of Compensation On Employees Performance

1.2 STATEMENT OF PROBLEM 

 The problem being addressed in this study is that lack of incentives decreases or hampers employee’s performance in an organizations. The issues is that if employees are performing well in their duties, but lack incentives or if the organization did not take cognizance on their effort it will decrease their moral towards performance and so increase the rate of carefree attitude, absenteeism and so on and by so doing the organizations performance will be hampered (i.e the organization cannot achieve its set target).

1.3. OBJECTIVES OF STUDY

This research work is to find out the following

a. The extent to which employee performance is influenced by compensation. 

b. To see if there is any relationship between performance, satisfaction and compensation. 

c. To find out the effect of compensation on employee performance. 

1.4 RESEARCH QUESTIONS 

a. Is there any significance between compensation and performance of the employee in their duties?

b. Does organization use qualified and competent workforce due to poor compensation management?

c. Does compensation management have significant influence on the output of job. 

d. Does monetary reward lead to higher productivity with job satisfaction and workers performance at the same time?

1.5 STATEMENT OF HYPOTHESIS

For the purpose of this research work, the hypothesis will be limited to test whether achieving corporate goal has relationship with workers compensation.

Ho: achieving corporate goal dose not depend on how  the employers satisfy its employee.

Ha: achieving corporate depends on how the employers satisfy its employee.

Ho: United bank for Africa plc (UBA) has not been meeting up with employee welfare since inception 

Ha: United bank of Africa plc (UBA) has been meeting up with employee welfare   since inception.

1.6 SIGNIFICANCE OF STUDY

 This study will add more to knowledge. It is significant in the sense that it will provide solution and ways by which management staff could reinforce their workforce for better performance. It will be used as a management tool for staff encouragement. This it would be of immense help to the management of United bank for Africa Plc (UBA) in taking a productive stand on important issues to workers welfare that is (compensation) thereby helping to bring in mutual convergence of individual satisfaction. This work will also be of use to future researcher who may which to carry out further research on compensation. 

1.7 SCOPE OF STUDY 

 United Bank for Africa Plc (UBA) is the most financial institutions in Nigeria with a workforce of  million customers across 750 branches in 19 African countries. As a result of inaccessibility of the scattered branches, this study is Limited to staff of United bank for Africa Plc (UBA) that operates at the head office of the Bank in Lagos with a view that the response gathered will be used to generalized the view of other workforce. Financial and time constraints will prevent it, the researcher from acquiring more details or information from other branches. 

1.8 LIMITATION OF THE STUDY 

Despite the progress made in this study and its outstanding nature, the researcher encountered some problems in the course of this work which are as follows: 

(a) Financial constraint:  Here, a lot of money was spent in the course of this work in the areas of transportation, phone calls, purchase of stationeries etc. 

(b) Cooperation: A t the course of this research work, the mangment and staff of these selcted banks finds it difficult to cooperate with student in term of givien out relevant ifnromtion that are needed from them to complete the research work. 

(c) Time Constraint:  This work required a lot of time but the combination of this research work and lectures reduced the time and also it is stressful. 

1.9 DEFINITION OF TERMS 

There words are defined, as they would be used in this study.

a. Compensation:- This refers to salary or wage and the all other rewards employees receives as a result of their employment “Mathis and Jackson (1985).

b. Performance:- It is the output of the work being undertaken by the employees which can be established, communicated by employees and used to determine pay. 

c. Management:- This is re-realizing the goal and other objectives of an organization through employees. It has upper hand in arranging the environment and provides broad polices and guide lines, which people must operate. 

d. Pay:- This is basic compensation or reward and incentives usually inform of a wage or salary. 

e. Incentives:- There are reward designed to encourage and reimburse for effect beyond normal performance expectation. 

f. Benefit:- These are rewards available to employee group of employee as park of organizational membership.