ABSTRACT
This work is set to critically analyze the Effect of Compensation Package on Employee Performance. It is a known fact that one of the most vexed issues in employer/labour relations is matter relating to compensation. Therefore, it is proper to say that compensation package is a matter that is closet to the heart of every employee and the employer. In doing this, related literature was reviewed and data was collected using questionnaire and interview methods. Respondent were randomly selected from the population of study. The population of study was the employees of KPMG professional services, Lagos. The data collected from field work was presented and analysed using simple percentage and chi-square. Findings were made and summarized. Adequate recommendations were equally made. The major findings of the study are; that compensation affects employees performance, that the employees morale is affected by the adequate of other wise of their compensation, that labour turnover is minimal if compensation is perceived to be adequate, that adequate compensation of employees bring about good labour employee performance on his is a function of satisfaction. Therefore, organization with good compensation packages enjoys stability team work, higher productivity and profitability. As the research is no a reservoir of knowledge in this field of study, suggestion for further studies was made.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Prior to the arrival of the colonialists on our shores, there was vitality no wage employment. The Nigeria economy was purely agrarian with the workforce made up of father, his children and the wife (or wives). The only non-family member’s employed on the farm were the slaves. Even when additional hand is engaged from outside to work on the family farm. Payment in form of “wage” is usually in kind and not in cash.
With the arrival of the Europeans, things started to change and the need to hire the natives either as cooks, drivers, gardeners, interpreters or clerks became inevitable and consequently cash economy and wage employment began emerge. As this group of Nigeria workers stayed for a long time their masters, there began the need to keep records of their employment.