ABSTRACT
This study focused on "Effects of
Compensation as a tool for enhancing employees performance" A study of
United Bank for Africa, Abia State. The specific objectives of the study are
to:Determine the factors that improves the motivation of the employees in
United Bank for Africa and First Bank Pie.Examine the effect of compensation
plan on Organizational productivity in United Bank for Africa and First Bank
Pie. Ascertain the challenges faced in implementation of employees'
compensation package. The population 576 staff from which 236 was derived as
the sample size using Taro Yamane's formulaat 5% error tolerance and 95% level
of confidence. Instrument used for data collection was primarily questionnaire
and interview. Out of 236 copies of questionnaire distributed, 214 copies were
returned while 22 were not returned. The hypotheses were tested using Pearson's
CorrelationCoefficient, ANO VA methodof data analysis and Statistical Package
for Social Science (SPSS) tool. The major findings are that clear understanding
of the compensation plans of the organization outlined and duly communicated to
the employees serve as a mechanism that improves employees' performance in the
selected financial institutions(R =0.814; adjusted R 2 =0.814; F.cal=930.242;
p=0.000; (p<0.05 .at significant level)., there is significant effects of compensation
plans of the organization that has positively improved her corporate image,
profitability, productivity and organizational goodwill in the selected
financial institutions(R2 =0.861; adjusted R2=0.860; F.cal=l309.369; p=O.000a;
(p<0.05 at significant level). There is less or no attention to recognize
the hardworking employees, enthronement of mediocrity, unnecessary delay in
dispensing of fringe benefits adversely affects implementation of compensation
plans of the organization in the selected financial institutions in Abia
State,. (R2 =0.873; adjusted R2=0.872; .cal=1455.271; p=0.000a; (p<0.05 at
significant level)The researcher recommended Organizations should maintain
their strategies of improving her corporate image, profitability and output level
through suitable compensation packages for their employees' performance.
AMAEZE, O (2024). "Effect of Compensation As A Tool For Enhancing Employees Performance (A Study of United Bank for Africa and First Bank):- Amaeze Augustine 0. . Mouau.afribary.org: Retrieved Sep 08, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-compensation-as-a-tool-for-enhancing-employees-performance-a-study-of-united-bank-for-africa-and-first-bank-amaeze-augustine-0-7-2
O, AMAEZE. ""Effect of Compensation As A Tool For Enhancing Employees Performance (A Study of United Bank for Africa and First Bank):- Amaeze Augustine 0. " Mouau.afribary.org. Mouau.afribary.org, 26 Feb. 2024, https://repository.mouau.edu.ng/work/view/effect-of-compensation-as-a-tool-for-enhancing-employees-performance-a-study-of-united-bank-for-africa-and-first-bank-amaeze-augustine-0-7-2. Accessed 08 Sep. 2024.
O, AMAEZE. ""Effect of Compensation As A Tool For Enhancing Employees Performance (A Study of United Bank for Africa and First Bank):- Amaeze Augustine 0. ". Mouau.afribary.org, Mouau.afribary.org, 26 Feb. 2024. Web. 08 Sep. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-compensation-as-a-tool-for-enhancing-employees-performance-a-study-of-united-bank-for-africa-and-first-bank-amaeze-augustine-0-7-2 >.
O, AMAEZE. ""Effect of Compensation As A Tool For Enhancing Employees Performance (A Study of United Bank for Africa and First Bank):- Amaeze Augustine 0. " Mouau.afribary.org (2024). Accessed 08 Sep. 2024. https://repository.mouau.edu.ng/work/view/effect-of-compensation-as-a-tool-for-enhancing-employees-performance-a-study-of-united-bank-for-africa-and-first-bank-amaeze-augustine-0-7-2