INFLUENCE OF COMPENSATION PACKAGES ON EMPLOYEE COMMITMENT (A CASE STUDY OF EKITI STATE UNIVERSITY, ADO-EKITI)
Abstract
The study centered on the influence of compensation packages on employee commitment among academic staff in Ekiti State University. Specifically, the study investigated the influence of allowances on Academic staff commitment in Ekiti State University: determined the influence of prompt payment of salary on Academic staff commitment in Ekiti State University and examined the influence of promotion (career progression) on Academic staff commitment in Ekiti State University. The design used for this study was a correlational survey design. The population for this study was the entire 753 teaching staff of Ekiti State University, out of which a random sampling technique was used to select 260 staff from five faculties. The study made use of a self-structured questionnaire. Simple linear regression was used to test all the hypotheses. It was gathered that allowance and employees' commitment to work were positively significant with p-value of 0.04. Consequently, prompt payment of salary influenced employees' commitment to work positively with p-value of 0.00. Lastly, promotion significantly influenced employees' commitment to work with p-value of 0.00. In line with the findings, it was concluded that allowance, prompt payment and promotion influenced employees' commitment to work. It was therefore recommended that since competitive pay attracts, retains and motivates qualified candidates for improved efficiency and productivity in the organization, compensation should create perceptions of fairness by paying competitive wages, offering competitive benefits and promoting the most qualified employee to enhance commitment. Employees should not be declined of the promotion they are due for and that employees should cultivate the habit of prompt payment of salary
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