World Summit on Management Sciences
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Accepted Abstracts

Monetization of Fringe Benefits and Employee Performance in Public Service Organization in Anambra State, Nigeria

Anekwe Rita Ifeoma1*, Nwatu Ifeanyichukwu2
 
1Nnamdi Azikiwe University, Nigeria
2Akanu Ibiam Federal Polytechnic, Nigeria

Citation: Ifeoma AR, Ifeanyichukwu N (2020) Monetization of Fringe Benefits and Employee Performance in Public Service Organization in Anambra State, Nigeria. SciTech Management Sciences 2020. Thailand 

Received: January 25, 2020         Accepted: January 28, 2020         Published: January 29, 2020

Abstract

This paper explores the effect of monetization of fringe benefits on employee performance in public service organizations. It specifically investigates the effect of monetization of fringe benefits on employee commitment. Survey research design was adopted and the major instrument used for data collection was questionnaire which was structured utilizing four point likert scale. A total of 193 workers comprising 101 males and 92 females participated in the study. Descriptive and inferential statistics such as frequency distribution, mean and standard deviation, spearman correlation coefficient were used to analyze data. The result reveals that there is a weak but significant relationship between monetization of fringe benefits and employee commitment in public sector organization. The study concludes that Public service remains very critical and crucial to national development and democratic stability in developing societies. To ensure increase in employee and organization performance, employees of government institutions need to be motivated in quantifiable and non quantifiable attributes to ensure increase in performance and improve the standard of living. It was therefore recommends that Economic regulation of the policy should be encouraged. Agencies like the CBN should be involved in implementation as increased pay of workers is directly linked to economic turbulent issues like inflation, and scarcity that undermine the potential benefits of such policy.
 
Keywords: Monetization of fringe benefits, Employee performance, Employee commitment.