EMPLOYEE COMPENSATION AND JOB SATISFACTION IN OIL AND GAS MULTINATIONAL COMPANIES IN NIGERIA

Abstract

This work examined the relationship between pay scheme and work attitude in oil and gas multinational companies in Nigeria.  A survey of literatures and qualitative content analysis was done and the result of the analysis indicates that there was strong correlation between the pay scheme and work attitude.  The study adopted a cross sectional survey design.  The population of the study was 11,132 permanent staff on companies’ register and it used questionnaire to collect data from the 375 employees drawn as sample size using the Krejcie and Morgan sample size determination table of 1970.  The Spearman’s Rank Order and the partial correlation coefficient at a 0.05 level of significance was used as the benchmark for assessing the relationships between the variables. Pay scheme was found to be pertinent and imperative to work attitude outcomes such as job satisfaction, job commitment and job involvement.  This work recommend that oil and gas multinational companies should pay attention to the implementation of pay scheme to attract the needed workforce that will give the desired best behaviour for organizational effectiveness and productivity.  Consequently, upon these findings, the study recommend that pay scheme programs be firmly supported to be consistent, transparent, fair and equitable to match industry index and viability to extract the desired employees’ best behaviour for effective performance and organizational productivity.