IMPACT OF INCENTIVE WELFARE SCHEMES ON THE PERFORMANCE OF WORKERS
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IMPACT OF INCENTIVE WELFARE SCHEMES ON THE PERFORMANCE OF WORKERS
INTRODUCTION
BACKGROUND OF THE STUDY
The management of a staff incentive system has now become a widespread phenomena of any organization’s complete personnel policy. The scheme entails those extra benefits, which may or may not be monetary in nature,
that flow from the employer’s goodwill towards the employees, to supplement their regular wages from time to time, and which are usually geared purposefully towards improving worker performance in the organisation.
This scheme, if it exists, is critical to both the organisation and its personnel. From the employer’s perspective, strong staff employee incentive systems are expected to motivate employees to work hard and improve their overall attitude towards the organisation.
However, for the employee, these benefits imply some additional privilege such as greater income, increased security, or better working circumstances that should not necessitate any further effort.
Employers of labour have seen in staff welfare services the opportunity to elicit dedication and cooperation from subordinates in order to contribute more to the attainment of the organization’s goals and aspirations.
This revelation has inspired many labour employers to implement well-packaged welfare services, with the true idea that a good staff services scheme will induce employees to work hard and increase overall staff morale.
Except for the variation in payment methods and the apparent shift in emphasis, the situation stays basically unchanged. The staff welfare system is described as “something of value that is separate from the agreed-upon regular monetary payment of salaries and wages given to staff.” This will be the working definition for this research project.
Staff wellbeing services exist in all cultures and organisations, and have done so since the beginning of time. They prefer various shapes and forms and are drawn to various names.
They are variously referred to as “welfare services” welfare benefit employees “income” or simply “supplementary compensation” pay and non wage payment” in recognition of their worker need fulfilment duties. They are being referred to as “indirect compensation and on-tax benefit” as non-taxable income and expense.
They used to be tiny bits and pieces of sweets that occasionally fell from the lamp tables of paternalistic bosses, i.e. when top management took on a fatherly role for the personnel.
It should be noted that in order for the company to achieve its objectives, her welfare services should be adequate competitive who are tailored towards the real needs of the staff are directly influenced by nature quality and quantity of welfare services offered because they compare themselves to their counterparts in the organisation.
In my research and analysis, I discovered that workers prefer increases in welfare services to wage increases, especially during times of inflation and rising costs. When welfare services are poor, workers typically get frustrated and unsatisfied.
Workers have been seen to be more satisfied and devoted to giving their all to the fulfilment of the company’s objectives when the opposite condition prevails.
STATEMENT OF THE PROBLEM
Workers or employees are frequently drawn to specific organisations not only because of the compensation packages specified in the advertisement, but also because of the perks associated to them: These perks typically include, to name a few, housing, transportation, and medical allowances.
These attractions may be a significant goal for which such individuals chose to work in such organisation. The lack or diminution of these key draws for such persons within the organisation will undoubtedly lower morale as well as the efficiency of such individual’s performance, which will reflect on the organization’s production.
Examples abound of organisations that have encountered immediate agitation from the workers union and staff association, inadequate administration of existing ones, or entire loss of these benefits in recent times.
Employees’ unhappiness with the provision or administration of staff welfare services. Activities become severe difficulties that necessitate my thorough analysis and examination in order to find a long-term solution.
These assets will be scrutinised in relation to a government-owned firm known as “THE NATIONAL ELECTRIC POWER AUTHORITY PLC, ENUGU ZONE.”
OBJECTIVE / PURPOSE OF THE STUDY
The following is the study’s objective or purpose:
To determine whether any of the services formally provided by firm employees have been removed, as well as the reasons for their withdrawal.
To determine whether there are any additional benefits that the staff requested for effective work performance that have yet to be supplied.
To determine any challenges encountered by the company in the administration of social services.
To assess the success or otherwise of the national electric power authority’s staff welfare programme as perceived by the employees.
If necessary, offer recommendations based on this analysis on how to improve the provision and management of the staff welfare system in the NEPA Plc Enugu zone.
OBJECTIVES OF THE STUDY
Students are frequently confronted with numerous limits due to the nature of the research. To circumvent some of these limits, students are now obliged to conduct a case study in which a small area is chosen for study and used as a reference point for larger areas. As a result, the scope of this study is limited to a broad range of government-owned enterprises in Nigeria known as NEPA Plc Enugu zone.
The study of the administration of the staff welfare system in NEPA is hoped to act as a wake-up call to the efficient administration of welfare services in other government-owned firms in Nigeria.
SIGNIFICANCE OF THE STUDY
The importance of a thorough staff welfare system in the efficiency with which an average worker executes his obligations and the attainment of an organization’s overall corporate cannot be overstated.
As a result, organisations strive to achieve their corporate goals by assisting their employees in achieving their personal goals. This is accomplished by establishing an optimal welfare programme for the benefit of their employees.
In another vein, it is interesting to see who may be thinking about the new benefit plan that NEPA Plc Enugu zone would develop, given the conditions under which the firm was founded as a new cooperating organisation, leaving behind two obviously distinct personnel welfare schemes.
DEFINITION OF TERMS
The following key works are defined for the purposes of this research:
STAFF
Any individual who engages into a business through a (employers) in exchange for pay, salary, or other useful compensation. In this research task, this includes both individuals who are normally involved in the execution of the assigned work and those who are involved in the firm’s day-to-day decision making.
WELFARE
Is a broad range of services offered by businesses to their employees and, in some situations, members of their staff families. This term is identical with fringe benefits, employee benefits, welfare services, supplemental benefits, and supplementary compensation in this study.
SCHEME
This is a preset agreement of programmes, events, or development meant to result in a specific projected conclusion.
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