Proceedings of The 10th International Conference on Opportunities and Challenges in Management, Economics and Accounting
Year: 2023
DOI:
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An Appraisal of Wages and Salaries as A Motivating Factor to Employees in UAC Nigeria PLC
Nosirudeen Oyedele Ipadeola
ABSTRACT:
Appraisal of wages and salaries as motivating factors to employees in an organisation is enriched with contribution from a number of scholars expressing the individual antecedents of each concept and putting forward various definitions with a view to explaining their meanings. The amount of Wages and Salaries determines not only the standard of living of the employee and his family; it also determines his social status. There is no gain saying the fact that man is a social being who craves interaction with his whole man. The objective of this study is to identify and assess the appraisal of Wages and Salaries as a motivating factor. The research method deals with the source and methods of collection of data, which is very significant in view of the fact that the methodology employed in a research study determines to a large extent the validity of the findings of the study. It also aims at providing a clear view of the process of methodologies employed for all potential users of this research study as to what to expect should any further research be carried out on this topic or some other related topic. In conclusion, it was recommended that since most of the workers
(respondents) identified profit sharing, overtime premium etc. as the factor most likely to lead to their turnover, the management of the form should work towards providing satisfaction in these areas so identified in order to avoid turnover of hardworking employees and finally, to ensure higher performance and better organisational effectiveness, the use of money as an analytical instrument of motivation should not be ignored. Money is a vital tool especially with the economic hardship being faced by the average Nigerian considering the depressing situation in the country. An increase in pay spurs the individual to achieve more.
keywords: Effective payment of employees’ wages, employees’ motivation, high job performance