COMPENSATION STRATEGY AND ORGANIZATIONAL SUSTAINABILITY IN PHARMACEUTICAL FIRMS IN PORT HARCOURT

Abstract

This study aims to analyze the effect of compensation strategy and organizational sustainability in the pharmaceutical companies in Port Harcourt. The effect of compensation strategies and how this can decide whether an organization will grow. The two strategies are closely related because the compensation system is a critical component of an organization’s overall HR strategy. An effective compensation system can help attract, retain, and motivate employees while also ensuring the organization’s financial sustainability. In any profit-oriented organization, the employment relationship is seen as an exchange process where employees provide inputs in terms of skills and expertise in return for various compensations from the employer. From the perspective of the employee, pay has an important influence on the Standard of living, status, and security.  Less direct forms of compensation such as health care, pensions, and other benefits also impact employees' well-being. From the employer’s point of view, compensation is both a major cost of doing business that needs to be controlled and an investment that must generate adequate returns in terms of employee attitudes, skills, behaviors, and organizational performance. In the present research work, we survey some of the research evidence on compensation in relation to staff performance and its influence in organizational sustainability. The survey will be looking at the pharmaceutical companies and shops in Port Harcourt. I singled out Barata Pharmacy for this research to find out various compensation strategy if it has influenced its sustainability over the years. An online, social media questionnaire was adopted as well as physical questions were asked. The results of this study indicate that compensation has a positive and significant effect on work satisfaction, and organization sustainability