The Effects Of Remuneration On The Performance Of Employees On The Private Sector

The Effects Of Remuneration On The Performance Of Employees On The Private Sector

Chapiter 1

1.1 Background Information about the Subject

In Nigeria, both public and private organizations employ a variety of individuals and strategies for boosting staff productivity and preserving employee loyalty.As stated by management, “Employees wanted raising wages and managements wanted profit and depend on productivity which is their common quest,” introduction and Nigeria perspective by Akpala 18.

I can infer from the foregoing that productivity serves as the binding agent between employee and employer. How does a private sector organization go above and beyond to accomplish its goals and keep its personnel for a long time? To some extent, the progress a company records at any given period is determined by the cautious and effective handling of compensation packages. My personal experience in the private sector suggests that non-exploitative compensation improves employee performance.

This is not to say that elements like fostering a sense of belonging in an organization do not improve performance, but an employee who receives a return on his investment in an organization is more likely to perform well.

This is because, in accordance with Abraham Maslow’s hierarchy of requirements, his wants for food, clothing, and shelter rank among his physiological needs.

1.2 Issue That Will Be Addressed by the Study

The private organization is dealing with numerous issues. These include a large turnover of employees, administrative skill limitations due to government regulation, and a perception of low productivity. However, the researcher is still interested in learning whether an employee’s compensation has a significant impact on his or her performance.

What part do private sector employers play in promoting performance in the area of employee compensation?

1.3 The Value of Researching the Area.

These are the benefits of this research study:

1. To provide suitable advice aimed at balancing organizational importance and employee performance through a strong compensation package.

2. To assess the benefits and drawbacks of various forms of compensation.

See how the government’s policy on public employee compensation has impacted people working in the private sector.

They determine whether compensation has any bearing on an employee’s performance in the private sector.

Limitations of the Study, paragraph 1.4

This initiative only applies to workers in the private sector and does not cover the full Nigerian economy.

One and a half research issues

How much has the government’s policy on public employee compensation impacted workers in the private sector?

The payment to employers played a role in the movement of labor in society.

How much has employee compensation helped the firm achieve its goals while also alleviating employees’ problems?

What impact does compensation have on employees’ productivity?

In addition, the researcher employed a table with percentage-based responses and the number of respondents for each group.

Additionally, it was determined that the employee must not be frustrated by the implementation of the compensation system for it to achieve the desired outcome. Additionally, the management must be adhered to under the terms of the agreement struck with the staff in order for them to be loyal. When this changes, the employees should be quickly informed of the change’s cause.

References.

Student studying abroad in management, Koontz O. Donnell Weihrish

R. Hikert, Harvard Business, “Motivating the Human Resources.”

Review (1967; New York).