Appraisal of reward packages in construction firms

Abstract

Purpose A major requirement and practice in human resource management of an organisation is the award of appropriate reward packages to employees. This paper aims to examine the importance attached to reward packages by personnel of quantity surveying firms (QSFs) and the level of adoption of the packages with a view to develop important ones that can enhance quality of performance and reliability of the employees. Design/methodology/approach Questionnaires were administered on registered quantity surveyors employed in QSFs in the study area, which was Lagos State, Nigeria. Mean item score and chi-square were used to examine the significance of importance attached to available reward packages by employees, whereas factor analysis was used to highlight and group identified available reward packages. Findings Basic pay, that is salary and wages, is the most important and mostly used reward package, whereas the least are service recognition and profit sharing. Most of the reward packages were found to be important to the development of QSFs, and the variables were extracted and grouped into eight components. Originality/value As much as basic pay is a global and traditional reward system, managers and directors of QSFs should ensure that personnel with long-term commitment to the mission and vision of the company are duly recognised and rewarded accordingly. More so, profit from the proceed and benefits of the company should be shared in an appropriate manner, especially if employees are involved in securing jobs from clients.

Evaluating quantity surveying firms’ performance

“…The authors, thus, encouraged QSFs to develop an ideal working situation by creating a learning climate that enhances development and improvement of their performance. One of such is the award of appropriate reward packages to employees, which was found to be important to the development of QSFs (Oke et al, 2017). In addition, Oyewobi et al (2012) opined that the practice of job development and job enrichment in the workplace can be used as a vital tool to satisfy employee and make them happy.…”

Rewards From the Perspective of Employees and Managers

“…Gürerk et al (2018) state that rewards may be monetary, such as bonuses or salary increases, or they can be non-monetary, such as a better work environment or car. Nonmonetary rewards can lead to employee confidence and satisfaction but are more difficult to implement (Oke et al, 2017). Darma & Supriyanto (2017) demonstrate that reward consists of two components: 1-Financial reward 2-non-financial reward.…”

Interactional Fairness as a Mediator Between Merit-Based Pay Management and Organizational Commitment

“…Pay management is an important topic in the organizational management domain. Generally, pay refers to any monetary payment given to the workers as an exchange for work done (Novarini & Imbayani, 2019;Oke et al, 2017). Meanwhile, based on the organizational perspective, pay refers to the payment allocated to workers with the objectives to attract, retain and motivate competent workers in the organization (Mabaso & Dlamini, 2018;Korir & Kipkebut, 2016).…”