Influence of Indirect Compensation on Employees Productivity in Private Higher Education Institutions in Pakistan
Keywords:Indirect Compensation, Productivity, Employee Security benefit, Higher Education
The compensation is an important and essential element of the human resource management function or processes. Compensation does a crucial job in any association whether the pay is immediate or indirect; it impacts the general execution of the workers and results in the efficiency of the Organization. It is significant for Organizations in the present working conditions that they should hold their potential and key employees for getting more benefit and profitability and for holding the potential employees. Holding the key and important employees in the Organization by facilitating them through indirect compensation will increase their satisfaction with their jobs which results in increased loyalty for their Organization and this also facilities the Organization in the form of increased efficiency and profits. Besides this, HEC is additionally attempting to help the extension of higher educational institutions and universities in Pakistan so as to improve the standard of universities in the nation and to advance the ways of learning and improvement to the higher and advance levels of education in Pakistan. For accomplishing the task, the data is collected through primary and secondary sources across Pakistan. The questionnaires were distributed among 283 respondents of Private Higher Education Institution by using the snow ball sampling in Pakistan which includes both the staff and Faculty Members. Reliability, Regression and EFA are the Statistical tools used in this Research Study for examining the impact of indirect compensation on the productivity of employees. All the research hypotheses are accepted and only one hypothesis is insignificant as most of the respondents are young because they do not focus or planned their Retirement because of young age.