A Survey of administration of employee compensation schemes among Commercial Banks in Kenya
View/ Open
Date
2005-10Author
Muthigani, Perpetual W
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
Banks are constantly faced with the challenge of acquiring and maintaining the most
competent employees available in the labour market in order to achieve its goals and
hence gain competitive advantage within the banking industry. To achieve this, the banks
have to attract and sustain credilble empioyees and this can only be attained by having an
adequate compensation package.
The study reported here is a survey of administration of employee compensation schemes
among commercial banks in Kenya. The study explored the ways in which banks
administer their compensation schemes. It also sought to find out the factors which
influences the bank in choosing the type of scheme.
Questionnaires were issued to representatives of the human resources manager in the 43
banks. The data collected was coded and tabulated to indicate the means of the responses
concerning the weights given to the factors which influence the choice of administration
scheme.
An analysis of the data indicated that the dominant factors include: cost of scheme, number
of employees, size of the bank and technology. The study also revealed that one way of
getting the staff to stay longer and work harder is by making them 'part owners'. This can
be achieved by involving them in 'compensation' decision making and by having
articulated profit sharing techniques.
Citation
Masters Of Business Administration (MBA) Degree, University of NairobiPublisher
University of Nairobi School of Business
Description
A management research project submitted in
partial fulfillment of the requirement for the
Degree of Master of Business Administration (MBA),
Faculty of Commerce, University of Nairobi