Research Scholar, Public Administration Department, Panjab University, Chandigarh, India
Online published on 31 March, 2016.
Human Resource has never been as meaningful as it is today. Human resources are the wealth of an organization. The success of any organization irrefutably depends largely upon the efficient and co-ordinate working of human resources. Therefore, every company wants to attract, retain and motivate brains to meet its objectives. One of the tools for retaining and motivating quality workforce is Compensation Management (CM). It is one of the central pillars of Human Resources Management which helps in attracting and motivating the employees and improving organizational effectiveness as well. This is one critical aspect to the success of the organization.
The rationale of this study was to examine the extent to which the employees working in different classes in United India Insurance Company are satisfied with the compensation package that company has provided for them.
In the present paper sample of 102 Class I, Class II and Class III employees working in different offices of United India Insurance Company on the basis of convenience sampling technique were taken to draw the responses and elicit the results. Pearson's coefficient of correlation has been conducted to indicate relationship between the variable Class and the responses of the employees.
Based on the findings, it is recommended that for any public service organization such as the United India Insurance Company to improve the performance of employees, they should offer fair compensation package that will be specifically designed to link it with performance.
Human Resource, Compensation Management, Motivating and Attracting Employees, Organizational Performance, Public Sector Insurance Companies
