Compensation Management and Organizational Performancein Pz Cussions Nigeria Plc

Chapter One of Compensation Management and Organizational Performancein Pz Cussions Nigeria Plc

 

Abstract of Compensation Management and Organizational Performancein Pz Cussions Nigeria Plc

The study attempted to examine the influence of compensation management on the performance of the employee as well as the overall efficiency of the organization. Relevant literatures were reviewed to highlight the subject matter. Pz Cussons Nig. Plc was selected for testing in the study selected representative comprising of staff and management formed the sample size examined. The simple random sampling techniques were used. The questionnaire was used to collect data. 75 questionnaires were properly answered and returned from the initials 100 questionnaires. And respondents responses were presented in frequency tables and simple percentages was used for demographic data, while the chi – square (X²) method of data analysis was employed for hypothesis testing. The growing emphasis on employee engagement as critical to organizational performance means that the concept of total reward is exerting more and influence on reward strategy.

Reward management however, is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization. It deals with the design, implementation and maintenance of reward process and practices that are geared to the improvement of organizational, team and individual performance.

Consequently, it was proffered that compensation should be goal driven for instance, Pz Cussons should place more emphasis on financial reward, this will aid workers to evaluate his performance towards the organization, thereby promoting organizational performance and profitability.