A STUDY OF THE EFFECTS OF COMPENSATION ON WORKERS PERFORMANCE.

A STUDY OF THE EFFECTS OF COMPENSATION ON WORKERS PERFORMANCE. (A CASE STUDY OF GUINNESS BREWERIES PLC BENIN CITY

Abstract

This research work is carried out on the effects of compensation on the performance of workers. The objectives of the study is aimed at knowing the effects of compensation on workers in Guinness Breweries Plc Benin City. For the above purpose to be achieved data were obtained from both primary and

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After payment, text the name of the project, email address and your names to 08064502337 secondary sources. The primary sources were questionnaires and interviews while the secondary sources were textbooks, Journals, magazines and newspapers. The findings showed that competitive compensation package motivates workers of Guinness Breweries Plc for effective and efficient performance which directly increase productivity in organizations. It was also observed that inadequate compensation has adverse and dysfunctional effect on the performance of the workers. Based on the findings, it has been concluded and suggested that the management of Guinness Breweries Plc should motivate the workers by designing competitive compensation packages. Finally, it has also been suggested that Guinness Breweries Plc should embark on job evaluation and performance appraisal exercise so as to able to assess different jobs and capabilities of the staff properly for equitable compensation.

CHAPTER 1

Introduction

  • Background of the study

Guinness Breweries plc is relatively young company but from parent with a long worthy history spreading back more than 200 years. Guinness stout is sold in every country of the world. It’s popularity is based on natural goodness and unique flavor. In 1959, Arthur Guinness established his brewery on a four near the western entrance to the city of Dublin, Ireland, called St. James gate. Although, the gate has disappeared the brewery which bears its name now covers 66 acres and is one of the largest in the world.

In 1936 the demand for Guinness stout made it necessary to build a second brewery. This was sitedal park, Royal near London. The third Guinness brewery was open in Nigeria at Ikeja, in 1963. Like in Dublin and park Royal, Guinness stout in Nigeria is brewed to the unique Guinness flavor Ikeja boast of the largest bottling hall of any Guinness brewery in the world.

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Work on the Ikeja brewery began in September 1961 and the foundation stone was efficiently laid in January 1962 Arthur Benjamin Francis Guinness (Lord Elueden) who also become Chairman of Guinness parent company in London.

Initial brewing look place during November/December 1962 with full production under way in January 1996. on the 6th March 1963 Ikeja Brewery was officially opened by his Excellency Dr. Nnamdi Azikiwe the then Governor General of Nigeria. In mid 1972 Guinness had it’s second Brewery in Benin (Edo state capital) and it was designed to brew both larger beer and stout.

In 1976, a decision was taken to build the third Brewery. It is located at Ogba area of Ikeja and the stamp of quality.

There ore, Guinness Nigeria plc is public limited liability company jointly owned by Nigeria and foreign investors. Their aims and objectives are to maximize profit and provision of social amenities to it’s environment. In light of this, the company undertakes some social responsibilities e.g. Eye hospital located in Kaduna and Onitsha, while another is being planned for Lagos area. As part of its social responsibilities, the company has also sponsored many sporting and recreational activities. An example of the is the sponsorship of Nigerian University Games (NUGA). The manufacturers Association of Nigeria (MAN) has awarded Guinness Breweries plc with several awards e.g. the award of best kept industrial premises (Ogba Brewery) 1993.

Some 55,000 (Fifty five thousand) Nigeria share holders presently own 60% of the shares in the company and the balance is held by Guinness over seas Ltd and Atakani limited. In the area of agriculture (self sufficient) Guinness Nigeria plc. Contributed by acquiring almost 5, 000 hecteres of land at Kudu in Niger state in January 1986 for the production of local cereals to aid the company’s import substitution programme. At present the company has about 6000 staff and 400 in the managerial cadre.

  • Statement of the problem

Certain conditions or factors can make workers work effectively on their jobs. It has been observed that a number of factors seems to be responsible for job demotivation among workers. These include lack of interest in Jobs, poor salary, poor condition of service, lack of fringe benefits and so on. Workers in Guinness Breweries plc tend to be effected by these factors enumerated above. It have been observed that lack of competitive compensation package results in demotivation and consequently, incessant labour turnover.

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This study is faced with the problem of finding out the effect of compensation on workers performance. It is not  just giving compensation to workers but equally knowing how adequate the compensation is in relation to their efforts.

  • Purpose of the study

The most vital issue as regards the study resolves around the effort which poor remuneration as a motivational tool has on workers. This poor remuneration has caused low morale, high turnover rate, high wastage and inefficiency which hinder the achievement of the objectives of the organization.

The broad purpose of this study is to determine the effect of compensation on worker’s performance in Guinness Breweries plc Benin City.

The study also intends:

To identify the effect of compensation on workers performance and why some workers performance effectively and efficiently than other.

To examine the methods of compensation currently adopted in Guinness Breweries plc.

To determine how effective these methods of compensation are motivating workers.

To determine it these method of compensation adopted by Guinness Breweries leads to the company’s bottom line.

To determine the objective of competitive compensation programme employed by Guinness Breweries plc.

  • Significance of the study

The benefits of this study are numerous. Firstly it would aid the management of Guinness Breweries plc to be the handle the issue of compensation as a motivational tool for improved performance.

The findings from this study would serve as a good reference material to educationists. It would serve as good reference material for future researchers.

Finally, this study would also constitute a useful and interesting text in the library for students to use.

  • Research Questions

The following research questions are formulated to help gain insight into the study.

  • What are the method of compensation that is currently adopted in Guinness Breweries plc?
  • What are the effect of compensation on workers performance?
  • Are these method of compensation effective in motivating workers?
  • Does these method of compensation of employees leads to the company bottom line?
  • What are the objective of competitive compensation programme employed by Guinness Breweries plc?
    • Scope of the study
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This study was limited to Guinness Breweries plc limited situated in Benin City. It dealt with how workers would feel when the are not adequately compensated and their reaction to the perception of not being compensated at all

  • Definition Of Terms

To avoid misinterpretation and for easy comprehension, some terms need to be defined.

  1. COMPENSATION/REMUNERATION: This is defined as payment of salaries, wages, commission, businesses and also fringe benefits to workers in exchange for their services.
  2. EMPLOYEE: This is someone employed by the employer to work in his organization as to receive payment.
  • OBJECTIVE: This can be defined as the ends towards which activities are aimed.
  1. SALARY: This refers to financial reward given to employees.
  2. MOTIVATION: It is defined as the ability to arouse the interest of workers by providing challenging jobs, good condition of service, attractive salary and other incentives which are believed to include the workers to put in their best.

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Project topic: A STUDY OF THE EFFECTS OF COMPENSATION ON WORKERS PERFORMANCE. (A CASE STUDY OF GUINNESS BREWERIES PLC BENIN CITY)

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