Describing Companies’ Compensation Practices: A Case Study of Pagadian Manufacturing & Retailing Companies

Abstract

Purpose: The compensation practices in the case of retailing and manufacturing companies of Pagadian City. When a company fails to have a structure and transparency on how pay choices are made, it may be at a disadvantage when it comes to keeping employees motivated and preserving employee pay fairness. This explores the compensation practices implemented especially by the retailing and manufacturing companies and how these practices help improve the company’s employee performances. Design/Methodology/Approach: The researcher used a qualitative approach to make the chosen participants able to describe their Compensation Practices. The researchers distributed a Consent for Participation letter to the chosen participants of the research study before proceeding to the interview proper. Findings: The results show that the Compensation Practices of Manufacturing & Retailing companies in Pagadian City includes monetary benefits such as cash gifts, an increase in sales credit, and non-monetary benefits such as leave with pay, all-expense-paid services, and certificates and recognition. Implications/Originality/Value: So, it is concluded that the Compensation Practices is essential in increasing work productivity within the organization, providing fair compensation to employees, improving their performance, and keeping them motivated, which is an excellent advantage for the business.

Keywords

• Compensation Practices
• Employee Performance
• Employee Satisfaction
• Compensation Policies