COMPENSATION SYSTEM AND ITS IMPACT ON EMPLOYEE JOB SATISFACTION OF HAJEE MOHAMMAD DANESH SCIENCE AND TECHNOLOGY UNIVERSITY, DINAJPUR

Abstract

Nowadays, Universities are playing a vital role for the country development in the education sectors of Bangladesh. In the modern competitive education arena, satisfy and compensate employees is a burning issue for universities. These satisfaction and compensation of the employees depend on the benefits and opportunities provided by the organization. In this paper, I study compensation system, the drivers of employee job satisfaction for education sector of HSTU. This study tries to assess and evaluate the relationship between the compensation system and its impact on employee job satisfaction through HSTU. Data were collected from 60 employees. A questionnaire elicited information on sociodemographic variables along with human, technical, and monetary and nonmonetary payment aspects of compensation system and employees job satisfaction. Two aspects of quality compensation system— monetary and nonmonetary benefits are considered for the study. Results suggest that better health accident and liability protection, family and disability income continuation, deferred income and non-monetary aspects of compensation system increase employee’s job satisfaction. By increasing monetary and non-monetary aspects of compensation system can satisfy and retain quality employees with the university