Impact Of Compensation Management On Employee Motivation And Engagement With Reference To Selected Banks

Abstract

Compensation management plays a crucial role in shaping employee motivation and engagement within organizations, particularly in the banking sector where talent retention and performance are paramount. This study aims to examine the relationship between compensation practices and the motivation and engagement levels of employees in selected banks. The research methodology involves a mixed-method approach, combining quantitative surveys and qualitative interviews. Data will be collected from employees at various levels within the selected banks, focusing on their perceptions of compensation structures, rewards systems, and their impact on motivation and engagement. Additionally, interviews with HR professionals and management will provide insights into the design and implementation of compensation strategies. The findings of this study are expected to shed light on the effectiveness of compensation management in driving employee motivation and engagement in the banking sector. It is anticipated that a well-designed compensation system, aligned with organizational goals and employee preferences, will positively influence motivation levels, leading to higher engagement, productivity, and retention rates.This research contributes to the existing literature by providing empirical evidence and practical insights into the role of compensation management in enhancing employee motivation and engagement. It also offers recommendations for banks to optimize their compensation strategies to foster a more motivated and engaged workforce, ultimately contributing to organizational success in a competitive market environment.