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A study of Compensation Management

Paper type: Essay
Pages: 2 (389 words)
Categories: Compensation, Economics, Employment, Management
Downloads: 41
Views: 211

In spite of the multiple advantages and benefits of settlement management and its effect on staff member’s efficiency, it can not still be said that having settlement management policy is a remedy for success

in appraising, and handling worker’s efficiency. It is therefore the responsibility of all managers to make sure that the usage of compensating policy meets staff member’s expectation in order to have good and efficient performance. The very first standard requirement for effective and functional efficiency system is to have a common understanding of the standards of performance required from each job holder, efficiency required from each job holder and settlement management should remain in relation with organizational goals and goals.

One of the main duties of management is to make settlement policy a genuine tool for enhancing the capacities of staff members and personnels supervisor or practitioners should be in the driving seat in ensuring that the system is run in line with the concepts of fairness and equity.

The study was aimed at analyzing the effects of payment management practices on employees’ performance at the Nigeria Port Authority, Apapa.
Surveys were administered to selected personnel of Nigeria ports Authority, Apapa. The whole population was estimated at 340 people making up of senior and junior personnel and out of this population a sample of 100 participants were arbitrarily chosen for intensive research study and analyzed.

The responses obtained from the survey that was personally administered and the test of hypothesis Utilizing chi square (x2 distribution).
analytical technique of analysis form the basis of the finding of this research study. Some of the findings are,.
1. That the Nigeria ports authority (NPA) has a well-organized and effective settlement management system which applies to all the employees.
2. That payment management system has an excellent effect on employee’s efficiency and performance at the Nigeria ports authority (NPA).
3. There is a relationship between settlement management policy and staff member’s performance and that compensation management will cause favorable impact on employee’s efficiency.
4. That employee’s performance can also be determined through the use of some factors which are not monetary inclined like motivation, leadership, communication, objective, control, sense of belonging and decision making in relation to compensation management practices.
5. That despite the significant impact of compensation management system, performance of some employees is not up to the set standard of the organization.

Cite this essay

A study of Compensation Management. (2016, Apr 25). Retrieved from https://studymoose.com/a-study-of-compensation-management-essay

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