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