Compensation Practice and Job Satisfaction in Selected Consumer Goods in Lagos state Nigeria

Abstract

Job satisfaction in work organization influences the general efficiency and effectiveness of the whole employees. This is usually the results of the compensation practices that predominate in a firm. This paper examined the Compensation practices and how it affects the job satisfaction of employees of selected consumer goods firms in Lagos State, Nigeria. The paper adopted the survey research design through quantitative research approach. Primary data was used through administration of 300 copies of questionnaires to employees in the selected consumer goods firms. Findings reveal that Compensation practice has a positive and significant effect on Job satisfaction (R = 0.296, Adj. R2 =0.071, p < 0.05, F =11.497). It was found that compensation practice significantly affects job satisfaction of employees of selected consumer goods firms in Nigeria. The paper suggests that managers should always think about what compensation packages really motivate and excite their employees.

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