Social Dynamics of Compensation and Job Satisfaction Among Employees of Selected Banks in Abeokuta, Ogun State, Nigeria

Authors

  • Samuel Ayodeji Omolawal University of Ibadan
  • Sherifat Temitope Ayilara University of Ibadan, Ibadan, Nigeria

Keywords:

Compensation, Job Satisfaction, Work, Employees, Organizations

Abstract

This paper focusses on social dynamics of compensation and job satisfaction among employees of selected banks in Abeokuta, Ogun State, Nigeria. Cross-sectional survey design was adopted, primary data were collected using questionnaire administered on 310 respondents using total enumeration sampling.  Data were analysed using statistical techniques including T-test, Chi-square. Findings revealed that there was a strong positive correlation between reward and job satisfaction (r = .439, n = 155, p < .0005); male bank workers were more satisfied with their reward system than the female (M = 42.91, SD = 8.619); [M = 36.88, SD = 9.022; t (153) = 3.771, p = .000]; workers above 30 years of age were more satisfied with their reward systems than workers below age 30 group (M = 101.571, SD = 12.613); [M = 93.625, SD = 9.974; t (73) = 3.044, p = .003). Workers earning above 100,000 naira monthly had higher job satisfaction (M = 101.571, SD = 12.613) than those earning below 100,000 naira [M = 93.625, SD = 9.974; t (73) = 3.044, p = .046). The paper concludes that it is very essential for organizations to provide good compensation system for their workers to enhance their job satisfaction.

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Author Biographies

Samuel Ayodeji Omolawal, University of Ibadan

Faculty of the Social Sciences, Department of Sociology, Ibadan, Nigeria

Sherifat Temitope Ayilara, University of Ibadan, Ibadan, Nigeria


Department of Sociology, Faculty of the Social Sciences

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Published

2020-04-30

How to Cite

Samuel Ayodeji Omolawal, & Sherifat Temitope Ayilara. (2020). Social Dynamics of Compensation and Job Satisfaction Among Employees of Selected Banks in Abeokuta, Ogun State, Nigeria. SOCIALSCI JOURNAL, 6, 60-74. Retrieved from http://purkh.com/index.php/tosocial/article/view/693

Issue

Section

Research Articles