CHAPTER ONE

BACKGROUND OF THE STUDY

1.0   INTRODUCTION

Remuneration in form of money seems most acceptable to people in an industrial society where paid jobs are common. Money can buy basic needs; it can also buy power and social status, it is a reward to work. For jobs that are generally challenging, nor very interesting, or for those that do not require much training and skill, and are not offering lifelong career, money is the only motivator. A person in a paid employment in a managerial capacity normally has some motivation that makes him spend his day at work this may be in form of offer of additional reward, prospect of promotion, or other specific incentives, that add value to his basic needs of reward and security.

Human resources management strives to achieve organizational goals and the goals of the employees through effective personnel programs policies andprocedures. Successful performances of the personnel function can greatly enhance the bottom line of any organization. the personnel practitioners however are challenged more today than at any time in the history by a changing and more demanding labour force that has high expectation about the work place. At the same time, rapidly advancing technologies and outside influences are changing the nature of our jobs. It is thus more critical and more difficult to maintain a work environment that motivates and satisfies human resources.

Edward (1976) states that personnel management is the planning, organizing, directing and controlling of the procurement, development compensation, integration, maintenance and separation of human resources to the end that individual organizational and social objectives are accomplished.

According to Wayne (1980) "compensation which includes direct cash payment, indirect payments in form of employee’s benefits and incentives to motivate employees to strive to higher levels of productivity is a critical component of the employment relationship. Compensation affected by forces as diverse as labour market factors. Collective bargaining, government legislation and top management philosophy regarding pay benefits.

Compensation is recompense, reward, wage or salary given by an organization to persons or a group of persons in return to a work done, services rendered, or a contribution made towards the accomplishment of organizational goals, and any organizations who fail to compensate its employee adequately may not be able to achieve.

Its set objective because a good compensation package is a good motivator. Hence, the primary responsibility of the Human Resources manager is to ensure that the company's employees are well paid.

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