Social Dynamics of Compensation and Job Satisfaction Among Employees of Selected Banks in Abeokuta, Ogun State, Nigeria
Abstract
Samuel Ayodeji OMOLAWAL (PhD) & Sherifat Temitope AYILAR
This paper focusses onsocial 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 usingquestionnaireadministered on310 respondents using total enumeration sampling. Data were analysed using statistical techniques includingT-test, Chi-square. Findingsrevealed 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 belowage 30group(M = 101.571, SD = 12.613);[M = 93.625, SD = 9.974; t (73) = 3.044, p = .003).Workers earning above 100,000 naira monthlyhad higher job satisfaction (M = 101.571, SD = 12.613) than those earning below100,000naira[M = 93.625, SD = 9.974; t (73) = 3.044, p =.046). The paperconcludes that it is very essential fororganizations to provide good compensation systemfor their workersto enhance their job satisfaction.
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