Title: COMPENSATION MANAGEMENT SYSTEM AND PERFORMANCE OF PRIVATE SECTOR OF DOMESTIC & INDUSTRIAL PLASTIC, RUBBER AND FOAM GROUP OF MANUFACTURING FIRMS IN SOUTH EAST, NIGERIA
Abstract: The study was to evaluate thecompensation management system and performance of private sector of domestic & industrial plastic, rubber and foam group of manufacturing firms in south east, Nigeria.The specific objectives were to: ascertain the relationship between employee salary and quality service of private sector in South East, examine the relationship between bonus and output of private sector in South East and determine the relationship between commission and return on investment of private sector.The study used the survey approach.The primary sources were personal interview and the administration of questionnaire.The population of the study was 2870 staff.A stratified sampling method was adopted.The adequate sample size of 340 was determined using Freund and William's statistic formula.315 staff returned the questionnaire and accurately filled.That gave 93 percent response rate.The validity of the instrument was tested using content analysis and the result was good.The reliability was tested using the Pearson correlation coefficient (r).It gave a reliability co-efficient of 0.81 which was also good.Data was presented and analyzed by mean score (3.0 and above agreed while below 3.0 disagreed) and standard deviation using Sprint Likert Scale.The hypotheses were analyzed using Pearson correlation coefficient (r) statistics tool.The findings indicated thatthere is significant relationship between salary and quality service of private sector in Nigeria as reported in the probability value of r(95, n = 315) = .560,p > 0.05, there is no significant relationship between bonus and output of private sector in Nigeria of r(95, n = 315) = .671,p > 0.05, there is significant relationship between commission and return investment of private sector in Nigeria as reported in the probability value of r(95, n = 315) = .623,p > 0.05.The study concluded that salary, bonus, and commission had significant relationship with quality service, output, and return on investment of private sector of Domestic & industrial plastic, Rubber and foam group of manufacturing firms in South East, Nigeria.Based on the findings of the study the following recommendations was given among othersOrganizations should ensure that wages salaries display much equity such that there would not be misconception among the workers.