THE INFLUENCE OF ORGANISATION COMPENSATION SYSTEM ON EMPLOYEE'S PERFORMANCE (A STUDY OF ZENITH BANK)
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ABSTRACT
This study examined the influence of organisation compensation system on employee's performance using zenith bank Ikeja, Lagos State as a case study. The study specifically was aimed at determining if there is an effect of wages on employee performance; examine the degree at which incentives affects job satisfaction; ascertain the level at which indirect rewards affects workers rate of turnover in business organization; determine if there is any correlation between employee's job performance and the provision of adequate forms of compensation. The study adopted the survey research design and randomly enrolled participants in the study. A total of 100 responses were validated from the enrolled participants where all respondent are active workers of zenith bank Ikeja, Lagos State. Findings of the study showed that wages and salaries have an effect on employee performance, Incentives also affects to a certain high degree the job satisfaction of employees, Indirect rewards has a high level effect on workers rate of turnover, and that there is a correlation between employee's job performance and the availability of adequate forms of compensation system. It was recommended that the employers of labour both private and government firms must not take the compensation of their employees for granted because it will result in low productivity.
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