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

ABSTRACT

This study was carried out to examine the effects of remuneration on the performance of employees on the private sector using Polaris Bank Abuja . Specifically, the study  make adequate recommendations aimed at bringing harmony between organizational importance and employees performance through effective remuneration package. The study also  look into various types of remuneration, their merits and demerits. Also,the government policy on remuneration of public employee and see how it has affected those in private sectors. Lastly,to find out if remuneration plays any role on the performance of employee in the private sector. A total of 30 responses were validated from the survey.  From the responses obtained and analyzed, the findings revealed that Low basic pay and wages which leads to low employee productivity

Increased staff turnover rate. The study also revealed that declined employee moral which negatively affect the overall performance of an employee. Also,  that government policy on remuneration of public employed affected the employee of labour in the private sector . The study hereby recommend that the employers of labour both private and government must not take the remuneration of their employees for granted because it will result in low productivity. The research showed that there is a positive significant relationship between remuneration and employees' performance. Lastly,  the reason for frequent workers strike is borne out of poor remuneration and condition of services which the government must see as a twin scourge destroying the economy.

 

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