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Chapter One of Impacts of Compensation and Reward Strategies on Employees Performance in a Manufacturing Industries. ( a Study of Dangote Cements, Ibesse and Lafage Cements, Ewekoro)
Abstract of Impacts of Compensation and Reward Strategies on Employees Performance in a Manufacturing Industries. ( a Study of Dangote Cements, Ibesse and Lafage Cements, Ewekoro)
Impacts of Compensation and Reward Strategies on Employees Performance in Manufacturing Industries. ( A study of Dangote Cements, Ibesse and Lafage Cements, Ewekoro)
Many studies carried such as Kipkorir, Basweti and Nyaoga (2014) found out that there is a non-significant relationship between executive compensation, reward and performance. Ngui, Mukulu and Gachunga (2014) study established that financial and non-financial rewards can combine to enhance firm performance. As evidenced the studies had mixed results an indication of limited information on the real effects of reward and compensation strategies on the performance of employees in the manufacturing sectors specifically with a focus on Dangote Cements, Ibesse and Lafage Cements, Ewekoro, thus the essence of this study. Again at Dangote Cements, Ibesse and Lafage Cements, Ewekoro, it is clear what methods are used to determine employee compensation, what direct and indirect financial programs are offered at the company and their effects on employee performance and also the non-financial benefits offered and their effect on employee performance. At the company, compensation and reward is usually narrowed to cash and as a result, employers only have a tunneled vision when it comes to the issues of compensation and reward for their employees. The company has also attempted to give attention to employee compensation and reward strategies. However, employees themselves have failed to recognize the fact that their compensation is a package and not only related to cash. The byproduct of the above understanding of compensation and reward strategy is that it is managed to a moderate extent and most of the time employee performance could be affected and vice versa. The study therefore sought to address this gap by investigating effect of compensation and reward strategy on employees performance at Dangote Cements, Ibesse and Lafage Cements, Ewekoro.
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