IMPACT OF EMPLOYEES COMPENSATION ON JOB SATISFACTION (A CASE STUDY OF INTERNATIONAL BREWERIES PLC. ILESA, OSUN STATE)

ABSTRACT This research work is carried out purposely to examine the impact of employee's compensation on job satisfaction using international breweries plc ilesa, osun sate a case study. Compensation is the remuneration received by an employee in return for their contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Compensation includes payments such as bonuses, profit sharing, overtime pay, recognition rewards and sales commission. Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. This research work has helped in evaluating the importance of Compensation as an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. The findings revealed that, employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. The lucrative compensation will also serve the need for attracting and retaining the best employees. The impact of compensation and benefits on employee performance and organizational effectiveness depends on the existing compensation and performance management programs in the organization. Typically, most employees respond to increases in pay and benefits with a positive and more productive attitude. Sometimes, employees only notice rewards of a salary increase the day the increase is communicated to them, and the day they receive the first paycheck that includes the salary increase. Thus, it was finally concluded that a good compensation program should be put in place in an organization for the motivation and satisfaction of the employees.