1Sandra Obiri Kankam Yeboah | 2Prof. Charles Owiredu, PhD.
The purpose of this research is to assess the relationship between motivation, compensation and job satisfaction of employees in the banking industry using Hatso Branch of Ghana Commercial Bank as a study area. For the purpose of this case study, a sixty (60) people sample staff of the study area were selected as research population using simple random sampling method which quantitative and qualitative analysis were used. In order to measure employees’ motivation, compensation and job satisfaction, questionnaire and in order to measure compensation satisfaction has been used. This model includes four factors; Payment Justice, Organizational designed procedures, supervisor and performance-based pay. Also Herzberg and Kitchener model has been used to measure employees’ motivation. Motivation, compensation and job satisfaction played an important role to employees’ turnover because it would lead employee resigned when their motivation, compensation and job satisfaction is low. The results indicate human resources practice a positively and significantly correlated with motivation, compensation and job satisfaction. On the other hand, human resources practice as well as motivation, compensation and job satisfaction are negatively and significantly correlated with turnover. Turnover affects the cost of operations and drains the organisation of inherent implicit knowledge. To manage these effects, motivation, compensation and job satisfaction relationships have been studied. However, only moderate results have been obtained, a situation blamed on the exclusion of individual difference factors, and other relationships involving these factors. Using data from 60 employees of the study area (senior and Junior inclusive), the relationship between motivation, compensation and job satisfaction intention was evaluated. Motivation, compensation and job satisfaction were found to have a direct negative relationship with organizational trunovers or performance. Intrinsic and extrinsic satisfaction moderated this relationship, such that participants, who were low in their satisfaction had greater tendency to exit the organisation even at high levels of motivation, compensation and job satisfaction. These results indicate that the effect of motivation, compensation and job satisfaction on turnover can be enhanced in two ways; namely, when employees find congruence between their job and their self-identity, and when involved in such jobs enhances their overall job satisfaction. Consequently, Human resource managers will be challenged to place a high priority on job design, and develop policies that help employees to balance their work and non-work involvements so as to enhance their overall motivation, compensation and job satisfaction.
Keywords: Motivation, Compensation and Job Satisfaction