This research work mainly tries to ascertain the impact of remuneration on employees” performance.  People entering into an organization go in with different kinds of expectation from their work places, in most cases, they may want good salaries, job security, medical, transportation and housing allowances and mostly an incentive package called bonus. It is in recognition of this that this research tries to examine the impact of remuneration on employees” performance with reference to Union Bank of Nigeria plc, Owerri. Data was gathered through the use of questionnaires, with a sample size of 80 staff of Union Bank of Nigeria Plc. Data analysis was done by the application of simple percentage and chi-square after the analysis it was observed that there is significant relationship between remuneration and employees” performance. Conclusively, the researcher recommends that management should ensure timely and prompt payment of remuneration to the employees so that they will be motivated to work hard. 

CHAPTER ONE

1.0       INTRODUCTION

1.1       Background of the Study

            In any organization tasks are performed with the help of resources; material, machine, money and most importantly men. All other resources except for human beings as employees are non-living. Employees make use of these resources to generate output without them other resources will be useless, dormant and will not produce anything. Therefore, human resources is the greatest asset any organization can have and should be given the highest priority (Ojeleye and Okoro, 2016). Similar view is supported by Zaman (2011), he argued that human resource provides basis for an organization to achieve sustainable competitive advantage.

Since organizations are operating in a dynamic and competitive business environment, they need to develop strategies to acquire and retain the competent workforce. He also emphasize, nowadays human asset considered to be the most important asset of any organization and in order to get the efficient and effective result from human resource motivation is necessary remuneration is traditionally seen as the total income of an individual and may comprise a range of separate payments determined according to different rules. For example, the total remuneration of medical staff may comprise a capitation fee and a fee for services, or it may include a salary and shared financial risk (Buchan, Thompson and O”May, 2000).

            Organizations need highly performing individuals in order to meet their goals, to deliver the products and services they specialized in and finally to achieve competitive advantage. Performance is also important for the individual. Accomplishing tasks and performing at a high level can be a source of satisfaction, with feelings of mastery and pride. Low performance and not achieving the goals might be experienced as dissatisfying or even as a personal failure. Moreover, performance if it is recognized by others within the organization is often rewarded by financial and other benefits. Performance is a major although not the only prerequisite for future career development and success in the labor market. Although there might be exceptions, high performers get promoted more easily within an organization and generally have better career opportunities than low performers (VanScotter, Motowidlo and Cross, 2000) Sonnentag and Frese (2001).

These research is aimed at understanding the positive or negative effects of remuneration on employees performance with specific emphasis on Union Bank of Nigeria Plc.

1.2       Statement of Problem

Every organization is established for certain purposes. These purposes or objectives are targets to be achieved and for them to accomplish these objectives, workers must be employed. Despite the availability of human resources, management in these organizations observations have shown that there are still certain problems that lingers which could be traced as employee poor performance or inefficiency in incentive packages existing in these organizations. It is believed that good remuneration could motivate and sustain employees” interest and improve their performance.

1.3       Objectives of the Study

            The broad objective is to examine the impact of remuneration on employees” performance using union bank plc as a case study. However, specifically the objectives are:

1.         To examine how salaries affect employee commitment

2.         To determine the relationship between wages and productivity.

1.4       Research Questions

            The following research questions are relevant to these study:

1.         Do salaries, play any role in improving employees performance?

2.         Is there any relationship between wages and employees productivity?

1.5       Research Hypothesis

The following null hypotheses were tested:

Ho1:     Salaries does not play any vital role in improving employee”s dedication.

Ho2:     There is no significant relationship between wages and employees” productivity.

1.6       Significance of the Study

            This study will be beneficial to:

a.         The researcher, in the sense that it will enable him to know the impact of remuneration on employees” performance and its outcomes in an organization.

b.         This study will also become a point of reference to other researchers, so the public and other scholars will also benefit from it.

c.         The study will also be of benefit to the bank of study and to the entire banking sector and other organizations because the outcome of this work will help them in formulating appropriate organizational policies.

1.7       Scope of the Study

            This study is on the impact of remuneration on employees” performance using Union Bank of Nigeria plc Douglas Road Owerri; as a case study.

1.8       Limitation of the Study

            The researcher encountered some problems in the course of this work;

a.         Financial constraints: The inadequacy of parts of the fund requires for this research work posed some problems.

b.         Co-operation: The managements and staff of these banks find it difficult to co-operate with the researcher in terms of leaching out information required by the researcher.

c.         Time-factor: This work required a lot of time and commitments, but the combination of this research work and classroom lectures posed a threat, thought he work is a huge success.