IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT (IJEFM )

E-ISSN 2545-5966
P-ISSN 2695-1932
VOL. 9 NO. 5 2024
DOI: 10.56201/ijefm.v9.no5.2024.pg44.52

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Employee Compensation and Performance of Workers in First Bank Plc. Uyo, Akwa Ibom State

Ebito Inemesit Nya and Obialor, Donatus Chukwuemeka

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Abstract

Understanding the importance of compensation is crucial for both employers and employees. This research was carried out to ascertain the influence of Employee Compensation on the Performance of Workers in First Bank Nigeria Plc, Uyo, Akwa Ibom State. Cross sectional research design was employed on a population comprised of 700 employees of First Bank Plc, Uyo. A sample size of 255 was determined using Taro Yamane formula. Simple regression and post regression diagnostics test analysis was used to test the formulated hypotheses. Result shows that recognition has a significant positive effect on employees’ performance in First Bank Nigeria Plc, Uyo, Akwa Ibom State. It was recommended that banks should adopt cash bonus strategy as a way of motivating workers to spur them to increase their sales volume and meet with their targets always. It was concluded that periodical and regular allocation of fringe benefits for deserving workers tend to motivate workers to put in more efforts.

keywords:

Employee, Compensation, Performance, Recognition, Benefits, Bonuses.

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