Impact of Remuneration on Motivation: A Study of Acwell Engineering (PVT) LTD Sri Lanka
- Remuneration, Motivation, Attendance allowance, Over time payment, Net salary, Basic pay.
Remuneration appears to be a consequential factor which sways the performance and motivation of the employees of an organization. There are variegated kinds of remuneration policies in disparate organizations. This research anatomizes the remuneration methods and policy of Acwell Engineering (PVT) LTD and how it is influencing the motivation of the employees, and it empirically studies the association between these two variables. Remuneration can be pigeonholed into two parts that is financial and financial remuneration. In addition Chi square, Spearman’s correlation, Pearson’s rank correlation, econometric modeling and paired samples t test has been used for the empirical analyses. According to the empirical analysis it has been divulged that employee’s motivation of Acwell Engineering (PVT) LTD is dependent upon the remuneration methods. This research is hinge on both primary and secondary data. Questionnaire which is powered by Google forms is being used as a primary data collection method. However the other data are secondary data. According to the research it has been divulged that since employee’s motivation is swayed by remuneration methods. Acwell Engineering (PVT) LTD has to improvise its remuneration policy and procedures without removing the current remuneration methods.