THE IMPACT OF COMPENSATION AND BENEFITS POLICIES ON EMPLOYEE MOTIVATION
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- NGN 3000
Abstract: THE IMPACT OF COMPENSATION AND BENEFITS POLICIES ON EMPLOYEE MOTIVATION
This research aims to assess the impact of compensation and benefits policies on employee motivation. Objectives include identifying key compensation policies, evaluating their effectiveness, and examining their role in enhancing motivation. A survey design is selected for its ability to collect extensive data from various employee groups. The sample size, calculated using Taro Yamane's formula, includes 360 respondents, ensuring a 95% confidence level. The study focuses on the financial services sector in Lagos, a critical area for compensation strategies. The reliability coefficient score for the survey instrument is 0.88, indicating high reliability. Findings show that comprehensive compensation and benefits policies significantly enhance employee motivation by providing financial security and rewards. The study recommends that organizations should continually review and update their compensation strategies to meet employee expectations and drive performance.
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