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Impact of Compensation and Benefits on Job Satisfaction

   

Added on  2020-03-07

12 Pages3543 Words156 Views
Topic: Research Proposal: Impact of Compensationand Benefits on Job Satisfaction and employeeretention1

Table of ContentsChapter 1: Introduction....................................................................................................................3Background......................................................................................................................................3Scope of the research.......................................................................................................................3Aim of the study..............................................................................................................................3Research problem and research gap................................................................................................4Research question............................................................................................................................5Objective of the study......................................................................................................................5Literature review..............................................................................................................................5Methodology....................................................................................................................................8Conclusion and implication.............................................................................................................92

Chapter 1: IntroductionBackgroundCompensation is the best tool for improving the enhancing the employee motivation andcommitment towards the organizational goals and objectives. It is an evident fact that theemployees are the main resources of an organization through which companies are able tosurvive in tough competitive advantages (Popoola and Ayeni, 2007). But recent studies havehighlighted that the compensation is recommended mostly for executives while ignoring theemployees or the subordinates. The impact of compensation is evident upon the aspects of jobsatisfaction and employee retention as the sense of hard work and determination to meetorganizational objectives could be achieved among employees (Sinclair, 2002). Thus, the issuesrelated to employee dissatisfaction and core reason behind the lack of human capital inorganizations could be evaluated through the concept of compensation and its benefits as well. Scope of the research The scope of the research related to the impact of compensation and its benefits in relation toacquiring satisfaction and employee retention could be stated in terms of evaluating the needsthat remain unattended so far. But it is realized that in the last few decades the face ways inwhich the organizational scenario has changed and due to the increasing competition theemployee retention has become one of the burning issues (Smith & Smith, 2007). Thus, thescope of this study is to evaluate the chances of employee retention and job satisfaction as well.On the other hand, another scope is to understand the required measures in relation to increasingjob satisfaction and retention through compensation among employees.Aim of the studyThe aim of this study is to provide a clear insight regarding the practices of an organization inrelation to ensure job satisfaction and employee retention through compensation. Along withthis, it also manifests the association between compensation and job satisfaction in the industrialscenario (Chhabra, 2001). Thus, the study would be conducting the evaluation of all the relevantaspect in order to justify the concept. 3

Significance of the studyThe study is significant as it attempted in explaining the aspects that remain untouched fromquite a long time. But this study would be concentrating upon the evaluation of how employeesespecially subordinates are devoid of compensation as it has been believed that executives arethe main source of organizational performances and also awarded with compensation while thesubordinates are the main carrier of performances. Thus, the significance of the study could berealized in terms of highlighting the importance of employee compensation and how it influencesemployee retention and job satisfaction.Research problem and research gapThe compensation has a great influence on job satisfaction and employee retention, as theseaspects are interrelated to each other. On the other hand, compensation has the influence uponproductivity and job performance as well, as employees in an organization can be motivatedthrough providing good compensation (E.Deepa & Dr.S.Kuppusamy, 2011). The researchproblem could be stated in terms of poor compensation or lack of proper compensation to theemployees instead of good organisational performance and organizations in the contemporarybusiness scenario is concentrating more on executive compensation rather than the employeesworking under that executive. Apart from this, the subordinates are the base of organisationalperformance as they work hard and help the entire organisation to meet its objectives and veryfew studies have been conducted in relation to highlight this part of the managerial issues so far(Makena Muguongo, 2015). Thus, this study would help in evaluating the importance ofcompensation and its benefits for employees or subordinates which can ensure qualityperformance and increased productivity as well. In this regard, the research gaps could be statedin terms of the concentration of the previous researches on one part of the organization that is theexecutives. Many previous types of research have manifested the benefits of compensation inrelation to the executives and how it has helped in enhancing organizational performances (M.O,& Oluwaseun, 2014). But the main research gap shows that not only executives butcompensation to employees could evidently increase organizational productivity and possibilitiesof employee retention as well.4

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