Employee Benefits and Organizational Performance in Nigeria

This study investigates the impact of employee benefits on organizational performance in Nigeria. The study employed a quantitative research design, with the population being Nigerian organizations across various industries. The sample size was ascertained using the Krejcie and Morgan sample size formula, and the data was acquired by a questionnaire disseminated to staff in various organizations in Nigeria. In order to gain further insight into the data, descriptive statistics, correlation analysis, and multiple regression analysis were applied. The findings point to an appreciable, positive relationship between employee benefits and organizational performance in Nigeria. A positive correlation between insurance coverage, retirement benefits, and bonuses and overall organizational performance was identified and found to be substantial. The multiple regression analysis showed that employee benefits significantly predicted organizational performance, with health insurance benefits, retirement benefits, and bonuses making a significant contribution to the prediction. The study concludes that employers in Nigeria should prioritize investing in employee benefits such as health insurance, retirement benefits, and bonuses to improve organizational performance. Employers should regularly review and evaluate the adequacy and effectiveness of their employee benefits packages to ensure that they meet the needs and expectations of their employees. Employers should also communicate the benefits of their employee benefits packages to their employees to improve their awareness and appreciation of these benefits.