Employee benefits and its effect on employee productivity – Complete Project Material


CHAPTER ONE
INTRODUCTION

Maintaining healthy employee relations in an
organization is a pre-requisite for organizational success. One way of
maintaining good and healthy employee relations in an organization is by
attaching lucrative benefits to every job and task carried out by every
employee in that organization. Employee benefits which are the various non-wage
compensations provided to employees in addition to their normal wages or
salaries cannot be over looked by the management of an organization, since the
human resource of an organization is the most valued resource. This current era
is highly competitive and organizations regardless of size, technology and
market focus are facing employee retention challenges. To overcome these
restraints a strong and positive relationship and bonding should be created and
maintained between employees and their organizations. To enhance this strong
and positive relationship, employees should be motivated to put in their best
by providing employees with certain lucrative employee benefits like
performance bonuses, Christmas bonuses, study allowances, leave allowances etc.
Human resource or employees of any organization are the most central part so
they need to be influenced and persuaded towards tasks fulfilment.
In-order to achieve organizational goals, organizations must design various
strategies to make employees happy, and place various incentives for them to
benefit from, thereby adding value to themselves and increasing organizational
performance. If employees are not satisfied with their job or work place, they
tend to put little efforts at work or move to other organizations with better
job packages. This can cost an organization so much, especially if they are
loosing a key and very competent staff to a competitor.

 

1.1 BACKGROUND OF THE STUDY AND ORGANIZATIONAL
PROFILE

Employee benefits had its roots in the industrial revolution which created the
modern employment relationship by spawning free labour markets and large-scale
industrial organizations with thousands of wage workers. As society wrestled
with these massive economic and social changes, labour problems arose. Low
wages, long working hours, monotonous and dangerous work, and abusive
supervisory practices led to high employee turnover, violent strikes, and the
threat of social instability.  These led to various labour unions calling
for organizations to compensate employees accordingly. Intellectually,
industrial relations were formed at the end of the 19th century as a middle
ground between classical economics and Marxism, with Sidney Webb and Beatrice
Webb’s Industrial Democracy being the key intellectual work. Industrial
relations thus rejected the classical econ. Institutionally, employee relation
was founded by John R. Commons when he created the first academic industrial
relations program at the University of Wisconsin in 1920. Early financial
support for the field came from John D. Rockefeller, Jr. who supported
progressive labour-management relations in the aftermath of the bloody strike
at a Rockefeller-owned coal mine in Colorado. In Britain, another progressive
industrialist, Montague Burton, endowed chairs in industrial relations and
employee benefits at Leeds, Cardiff and Cambridge in 1930, and the discipline
was formalized in the 1950s with the formation of the Oxford School by Allan
Flanders and Hugh Clegg. Employee benefits and organizational relations were
formed with a strong problem-solving orientation that rejected both the
classical economists’ laissez faire solutions to labour problems and the
Marxist solution of class revolution. It is this approach that underlies the
New Deal legislation in the United States, such as the National Labour
Relations Act and the Fair Labour Standards Act.

 

1.2 PROBLEM STATEMENT
Designing and implementing a good employee benefit plan is a huge challenge for
most organizations in Nigeria. A study conducted by Cascio (2003) in some West
African countries including Nigeria revealed that most organizations in
developing countries do not structure and implement their employee benefit
packages in an appropriate manner; hence employees find it difficult to really
believe they are benefiting from their workplace.
Poorly designed benefit plans that do not actually motivate employees to put in
their best at work is a major issue in corporate Nigeria today. Organizations
that do not design their employee benefit plans based on the personality and
nature of their employees tend to be wasting resources and efforts, as
employees are not motivated to work hard if certain benefit packages offered by
the organization do not speak to their needs. An average Nigeriaian worker
places more importance to the benefits he or she will derive from working,
therefore they are very concerned about what they are paid. Cascio (2003) opines
that because of the importance that employee benefits hold for people’s
lifestyle and self esteem, employees are very concerned about what they are
paid as benefits- a fair and competitive employee benefit, while wise
organizations are concerned about what they pay because it motivates important
employee decisions especially when it comes to job delivery and performance.
Implementation of employee benefit is also a major challenge in corporate
Nigeria, as employee benefits are sometimes delayed or ruled out due to cost
reduction measures by the management of an organization. This has brought about
massive corruption, high employee turnover and low employee moral/productivity.

 

 

1.3 RESEARCH OBJECTIVES
The main purpose of this study is to examine the impacts of employee benefits
on the performance of an employee in an organization. However, in line with the
main objective of the study, the specific objectives are:

To identify employee benefit packages offered to
the employees of First bank, Uyo.

To evaluate the design and implementation of
employee benefit plans/ policies of First bank, Uyo.

To examine the effects of identified employee
benefit packages on the overall performance of the employees of First bank,
Uyo.

To suggest better employee benefit packages and
plans to the management of First bank, Uyo.

 

1.4 RESEARCH QUESTIONS

In-order to achieve the stated objectives of this
study, the following research questions were developed by the researcher:

What employee benefits exist in First bank Uyo?

What processes are involved in drafting employee
benefit policies, and what factors are considered when planning and
implementing these policies?

What effects have your company’s employee benefit
packages had on your job performance?

Considering the advancement in technology and best
human resources practices all over the world, what newer employee benefit
packages do you think if introduced to your company, it will increase your
performance?

1.5
RESEARCH HYPOTHESIS

Ho: There is no significant relationship between employee
benefit packages and employee productivity.

Hi: There is a significant relationship between
employee benefit packages and employee productivity.

 

1.6 SIGNIFICANCE OF THE STUDY

This study seeks to highlight and recommend best
employee benefit practices that can be adopted in an organization, by bringing
out the various employee benefit practices which First bank has undertaken to
increase its productivity and contribute its quota in the economic development
of the communities which it operates, and the country at large. This study will
therefore help enlighten management of various organizations of the various
effects of employee benefit plans and packages on the performance of an
organization. The study will also bring out specifically, the employee benefit
packages which the bank has been able to make available to its employees. It
also seeks to bring out the level of encouragement and motivation the bank has
given to its employees to work effectively, among others. The importance of
this study is therefore to highlight the various employee benefits and how it
affects the productivity of employees in an organization. This study will go a
long way to illustrate how organizations should treat employees’ in-order to
increase productivity.

1.7 SCOPE OF THE STUDY

The scope of the research will be limited to the
effects of employee benefits on the performance of employees in First bank,
Uyo, Akwa Ibom state of Nigeria. The research will rely on the bank for vital
information as well as information from secondary source.

1.8 LIMITATION OF THE STUDY

The researcher encountered a limitation in regards
to availability of information. Thus due to the institutions working ethics,
the researcher could not get access to vital information since it was treated
as confidential  and the targeted respondent’s number was not attained,
since some employees were on leave. Inadequate funds and availability of time
also became a limitation.

 

1.9 CHAPTER SCHEME

The project will be organized around following
chapters;
Chapter one gives an introduction to the research work. It gives the basic
information about the company and the research being undertaken. This chapter
therefore consists of the background of the study and organizational profile,
statement of the problem, objectives, research questions, significance of the
study, scope of the study, and limitations encountered by the researcher.
Chapter Twoconsists of the literature review and the theoretical framework
Chapter three gives details of the research methodology. The research
methodology represents the various ways and methods which the researcher used
in order to gain information.
Chapter Fourgives the analysis and interpretation of the information gathered
by the researcher.

Chapter five gives the findings and conclusion of
the researcher. Here, conclusions will be drawn based on the findings and their
implications will also be given


Get Complete Project Now »

Talk to us right now: (+234)906-451-7926 (Call/WhatsApp)


Share a Comment


Purchase Detail

Hello, we’re glad you stopped by, you can download the complete project materials to this project with Abstract, Chapters 1 – 5, References and Appendix (Questionaire, Charts, etc) for N5000 ($15) only,
Please call 08111770269 or +2348059541956 to place an order or use the whatsapp button below to chat us up.
Bank details are stated below.

Bank: UBA
Account No: 1021412898
Account Name: Starnet Innovations Limited

The Blazingprojects Mobile App



Download and install the Blazingprojects Mobile App from Google Play to enjoy over 50,000 project topics and materials from 73 departments, completely offline (no internet needed) with the project topics updated Monthly, click here to install.

0/5 (0 Reviews)
Read Previous

THE ROLE OF CORPORATE GOVERNANCE IN ENTERPRISE SUCCESS (A CASE STUDY OF ACCESS BANK PLC, AKA ROAD, UYO) – Complete Project Material

Read Next

design and implementation of a computerized food menu directorate system – Complete Project Material

Translate »