An Evaluation Of The Impact Of Remuneration On Employees Attitude And Performance In Organization

Project and Seminar Material for Human Resource Management (HRM)

An Evaluation Of The Impact Of Remuneration On Employees Attitude And Performance In Organization


Abstract


The essay evaluates the impact of remuneration on individual attitude and performance in organization. The objective of the essay is to identify how remuneration affect employees performance as well as to find out the various methods of remuneration and also to identify the challenges of wages and salaries administration in organization. To this end, attempts were made to review literature on the meaning of remuneration, the impact of remuneration on employees performance, methods of remuneration, objectives of remuneration as well as challenges confronting organization in salaries and wages administration. The researcher recommended that organizations should adhere strictly to the government regulation on salaries and wages as stipulated in the labour Act.


Chapter One


Introduction

Remuneration refers to the mode of compensating the workers exerting their energy or spending their time in accomplishing their organizations objectives.

Remuneration can be in monetary terms or in form of services. A monetary term is of course in form of wages and salaries and part of fringe benefits like housing and transportation allowances. Compensation package has three major components which are wages and salaries, fringe benefits and the other one is incentive schemes. Remuneration which comes in form of services includes recreational services, canteen services and medical services.

Remuneration has a significant impact on workers attitude and performance in organization because it is the most effective motivational technique. Good remuneration improves productivity, while poor remuneration affects productivity adversely. However, the general problem of monetary remuneration is that they are expert in the short run but not necessarily cost effect. On the other hand, monetary remuneration can motivate workers depending on his or her needs for money. Individual behaviour and consequently performance in an organization is related to remuneration. This is because people come to work in order to excel or to succeed in competitive situation.

As such, individuals with high needs for achievement have intense desire for success and equally intense fear of failure. As individuals, they like to see challenges set moderately difficult talk (but not impossible goal) for themselves, take realistic approach to risk, prefer to assume personal responsibilities to get the job done like specific and prompt feedback on how they are performing and likeness to work for long hours (Alfred, 1987).

Therefore, remuneration is one of the best motivational factors that facilitate individuals to put in their best in their job. As such, a well remunerated individual tends to work hard while a poorly remunerated worker does not put much effort in his or her job because such individual is not motivated.


Objectives of the Essay

The main objective of the essay is to evaluate the impact of remuneration on workers or employees attitude and performance in an organization.

Other specific objectives are:

  1. To identify how remuneration affect employees performance and attitude in organization.
  2. To find out the various method of remuneration in organization.
  3. To identify the objectives of remuneration in organization.
  4. To identify the challenges of wages and salaries administration in organization and to provide workable solution to the identified problems.

Significance of the Essay

The essay is significant in the following ways:

  1. To corporate organizations, it would enhance policy formation in the areas of staff wages and salaries administration.
  2. To students who may wish to use this essay as a reference material or as a spring board for their own work would find this work really significant.

Scope and Limitation of Essay

The essay focuses on the impact of remuneration on individual works attitude and performance in organization.

However, the following are some of the limitations of the essay:

Time Constraint:

The Limited time required for the completion of the work compete with the time I had to use in research and also prepare for lectures and group work.

Financial Constraint:

The cost of sourcing for the materials and the cost of transportation to where to get the appropriate materials needed for the completion of the essay

Inadequate Information:

I encountered problems in collecting date and information due to inadequate materis or book to get the needed information for the completion of the essay.


Chapter Five


Summary, Conclusion and Recommendations

5.1 Summary

The study evaluate the impact of remuneration on individual attitude and performance in organization, the objective that guided the essay is to identify how remuneration affect employees performance as well as to find out the various method of remuneration and also to identify the challenges of wages and salaries administration in organization. To this end, attempt were made to review literature on the meaning of remuneration, the impact of remuneration employees performance, method of remuneration, objectives of remuneration as well as challenges confronting organization in salaries and wages administration.


5.2 Conclusion

From the literature, it was clear that remuneration is a big motivational factor that motivates employees to put extra effort to their work which consequently improve organizational productive in no small ways. But inspite of these, remuneration is still constrained by administrative problems in most organization which impede it effect on employee’s productivity.


5.3 Recommendations

In view of the findings obtained from the literature, the following recommendations would be offered to help reduce the constraint against organization in salaries and wages administration.

  1. Organizations should adhere strictly to the government regulations on salaries and wages stipulated in labour act and to implement minimum wages in their organization.
  2. Organizations should ensure that they formulate good compensation plan that would enhance workers’ productivity.
  3. Organizations should endeavor that they design remuneration plan that would reward hard work and individual productivity as against the usually salary in accordance level and grade that does not take cognizance of level of individual productivity.
  4. Special incentives should always be given to hardworking staff in order to motivate workers to perform better.

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