EFFECT OF COMPENSATION ON EMPLOYEE PERFORMANCE IN NIGERIAN BANKING INDUSTRY

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dc.contributor.authorIMOUOKHOME, EBUN OMONIYI
dc.contributor.authorDR AUN, ISAAC IORTIMBIR
dc.contributor.authorOLADIPO, GANIYU TAIWO
dc.date.accessioned2024-05-10T08:32:17Z
dc.date.available2024-05-10T08:32:17Z
dc.date.issued2013
dc.description.abstractCompetition in the both manufacturing and financial sectors of the Nigeria economy has called for various strategies to attract and retain highly skilled work force. Hence. the need for compensation as a useful strategy for employee performance motivation arises. However, the dynamic world has rapidly change compensation programs; organization can no longer continue to increase rates by a certain percentage each year without some corresponding increase in performance. The objective of this paper is to examine employee's reaction to their compensation and to ascertain whether compensation actually influences employees performance. Primary data were collected using a structured questionnaire. frequency and simple percentage were used to analyse the data, and also hypothesis were formulated and tested using Kolmogorov smirov one sample test. The result of the study shows that compensation has a significant impact on the performance of the employee in the organization. Conclusively, compensation both in the financial and non-financial form must be a thing of interest to all managers in an organization since it is a major way of bringing out the best in an employee and also retaining them. Thus, dissatisfaction of employees occur more often which is reflected in high labour turnover, frequent complaints, strikes and deterioration in job performance. In order to avoid dissatisfaction, management should identity the causes and develop a package program to cater for the maintenance and motivational needs of the employee
dc.identifier.citation2. Imouokhome, E.O., Aun, I.I., & Oladipo,G.T. (2013): Effect of Compensation on Employee Performance in Nigeria Banking Industry. Advances in Management. 12(3):28-41 Published by Department of Business Administration, University of Ilorin , Ilorin, Nigeria. Available at : http://ejournals.unilorin.edu.ng/journals/index.php/aim
dc.identifier.issn0795-6967
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/123456789/13997
dc.language.isoen
dc.publisherDepartment of Business Administration, University of Ilorin , Ilorin, Nigeria
dc.subjectCompensation
dc.subjectEmployee
dc.subjectPersonnel
dc.subjectBanks
dc.subjectMotivate
dc.titleEFFECT OF COMPENSATION ON EMPLOYEE PERFORMANCE IN NIGERIAN BANKING INDUSTRY
dc.typeArticle

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