IMPACT OF REWARD AND COMPENSATION MANAGEMENT ON EFFECTIVE AND EFFICIENT SERVICE DELIVERY OF ACADEMIC STAFF (A CASE STUDY OF ADELEKE UNIVERSITY FDE, OSUN STATE)

The study sought to find out the effect of compensation on employees retention in an organization, using Adeleke University Ede, Osun Stateas case study. The specific objectives were to investigate effect of incentive compensation on the employee performance in Adeleke University, to establish the impact of promotion and advancement on the employee engagement in Adeleke University, to examine the effect of monetary compensation on the employee efficient service delivery in organization.A sample size of 83 employees was selected for the research while percentage ratio method was used to analyze and tabulate the data. Descriptive and regression method of data was used to analyse the hypotheses. The result from the tested hypotheses shows that there is significant relationship between salary and commission compensation and employee retention. It was concluded from the analyses that compensation is very essential for employee retention; and that commission and allowances given to the employees have successfully ensured that employee are satisfied to remain in the organization. It is recommended thatcompensation structure should include new and enticing ways to retain and motivate employees with a wide range of benefit designed to enhance individual effort. The organization should formulate competency-based compensation policy, the only thing standing between the employees and a greater wage is how much they contribute and how well they perform. Keywords: Compensation, Retention, Employees, Organization, Salaries and Wages, Promotion.