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Impact of Compensation and Benefits on the Job Satisfaction of Employees: Case of Iron Industry in REAL GROUP

By- Priyal Gupta and

Dr.Niranjan Deo Pathak

AMITY UNIVERSITY RAIPUR CHHATTISGARH

ABSTRACT:

Using a descriptive approach to research, this study investigated the complex relationships between employee job satisfaction, benefits, and pay. The study met its four main goals by using a straightforward random sampling technique to obtain a representative sample of 51 persons. First of all, it showed a positive relationship between pay and job satisfaction, suggesting that higher pay generally translates into happier employees. Second, the study demonstrated the important role benefits play in raising job satisfaction, demonstrating that workers with full benefit packages typically have higher job satisfaction scores. Thirdly, the study showed that employees who perceive justice in remuneration and benefits systems are more likely to report higher levels of job satisfaction, underscoring the significance of perceived fairness in these systems. Lastly, it determined a number of moderating factors, such as personal traits, professional responsibilities, and organizational culture that impacted the relationship. Given these results, the study highlights how important it is to provide competitive pay and extensive benefit packages while maintaining equity and taking individual differences into account. Also, by doing their KRA can improve employee work performance, morale, retention, and work satisfaction. It implies that more investigation into these associations using bigger sample sizes and a more varied population may provide new information and deepen our understanding of them.

Key Words: Human Resources, Compensation, Benefits, Job Satisfaction, Employees, KRA