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Monetisation of Employee's Remuneration : Its Implication on Workers' Productivity

Adeyeye, Olufemi J. (2006) Monetisation of Employee's Remuneration : Its Implication on Workers' Productivity. Journal of Chartered Institute of Personnel Management of Nigeria, V (2).

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Abstract

The purpose of this paper is to show whether the monetisation of employee s remuneration has any effect on productivity. It should be appreciated that productivity is influenced by an infinite number of factors, one of which could be the monetisation of the remuneration of workers by their employers. In order to e stablish the ''pure effects " of one variable, all the others have to be controlled. However, neither the data nor the information used, in this paper, will justifY the level of statistical analysis needed to establish causality. Consequently, "implication", as used in this paper, should be interpreted more in terms of 'associational 'than "causal" relationships. This paper examines the effect of remuneration on the employees productivity. It reviews the purpose of ·the policy and the mechanism for achieving it in the economy, in a way capable of resolving disputes in industrial relations and ensuring proper evaluation of employees remuneration without ignoring the cost benefits implication of monetisation, on the employer of labour. The paper examines, the courses of productivity growth, vis-a-vis, the relationship between productivity and other variables, such as employment wages, prices and monetisation of workers' benefits. The paper, further examines the various inadequacies and the benefits of monetisation of employees renumeration. The study concludes, that, adequate measures should be taken in order to ensure, that, the policy does not lead to massive fraud, corruption, capital flight and the exploitation of the weak by the strong, among other things.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 13 Apr 2015 13:30
Last Modified: 13 Apr 2015 13:30
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/4919

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