COMPENSATION MANAGEMENT PRACTICES AND ACADEMIC STAFF JOB PERFORMANCE IN PUBLIC AND PRIVATE UNIVERSITIES IN SOUTH-WESTERN, NIGERIA

Abstract

Compensation management practices in any organisation is key to the growth and development of organisations. The study investigated how compensation management practices determine academic staff job performance in public and private universities in Southwestern Nigeria. The study adopted the descriptive survey research design. Four research questions guided the study, and five research hypotheses were formulated in line with the study objectives. The population comprised 19,898 academic staff in 33 public and private universities in Southwestern Nigeria. The sample of 2,850 academic staff was drawn from the population using multi stage procedure, purposive and stratified sampling techniques. The research instrument was the researcher-designed and validated questionnaire titled Compensation Management Practices and Academic Staff Job Performance Questionnaire (CMPASJPQ). Pearson Product Moment Correlation (r) and t-test (t) statistics were used to test the hypotheses at 0.05 level of significance. The results of the study showed amongst others that there was a significant difference in the way academic staff perform their job in relation to (research and community services) in public and private universities in Southwestern Nigeria; direct compensation management (characterized by salaries, bonuses, medical allowance, annual leave allowance, travel allowance and housing allowance) and academic staff job performance in public and private universities in Southwestern, Nigeria was significantly related. Consequently, appropriately recommendations were made.