IMPACT OF COMPENSATION PRACTICES ON EMPLOYEE MOTIVATION AT ASK ASKARI BANK

Abstract

Compensation practices are usually practiced by the organizations in Pakistan and generally all around the world. These Compensation Practices are the reasons for the employees to work whole heartedly and not just work as a duty in that certain organization. The basic salaries for the employees push these employees to work in the organization as a duty but when certain incentives are given to the workers related to the extra salaries or related to other incentives i.e. free medical, fuel compensation, etc. then these incentives prove to be motivational for the employees and then they start working more effectively and efficiently. Compensation practices provide a great motivation for the employees and make them work honestly and whole heartedly. These compensations also help the employees to take interest in their work and to make them loyal with the organization.