AN EXAMINATION INTO THE IMPACT OF MONETARY BENEFITS ON EMPLOYEE JOB SATISFACTION IN CAMEROON'S PUBLIC SERVICE"

CHAPTER ONE

INTRODUCTION

Background of the study

The performance of workers is crucial for the success of an organization, making them the most significant aspect in its functioning (Yang, Li & Han, 2018). Hence, it is crucial for the organization to allure and keep their skilled staff. The study conducted by Gupta & Shaheen, (2016) found that highly skilled individuals had a beneficial impact on the organization's success. Therefore, organizations must provide resources to improve their performance by increasing motivation and commitment. Nowadays, workers expect suitable incentives for their success, and their loyalty to the organization is contingent upon the satisfaction of their demands. Organizations should include monetry incentives and rewards, such as profit sharing, bonuses, promotions, and stock ownership, into their strategy in order to foster loyalty and strengthen relationships (Al-Belushi, F., & Khan, 2017). Monetry incentives refer to tangible rewards or forms of remuneration, such as cash, that are provided to employees (Quadri, 2019). Researchers have categorized incentives into two distinct types: tangible and ethical rewards. Moral incentives are a kind of indirect remuneration, often provided via certification or appraisal. On the other hand, tangible incentives are a direct method of paying individuals for their efforts, sometimes in the form of bonuses (Quadri, 2019). Employee work satisfaction is a crucial element of how an organisation operates, since it has an impact on the individual's general well-being, productivity, and the overall effectiveness of the organisation (Chong & Law, 2016). Within the Public Service sector, where providing crucial services to the public is of utmost importance, it is particularly crucial to comprehend and improve employee work satisfaction (Hoskin, 2016). The Public Service comprises a wide range of governmental institutions and organisations that are accountable for providing public goods and services, including but not limited to healthcare, education, law enforcement, and administrative services (Rainey, 2009). Monetary perks, such as salary, bonuses, incentives, and fringe benefits, are an essential part of employee pay packages in the Public Service (Idowu,  Soyebo & Adeoye, 2019). These benefits function not just to recruit and retain skilled individuals, but also to reward and inspire workers for their efforts towards achieving organisational objectives (Idowu,  Soyebo & Adeoye, 2019). Furthermore, within the Public Service, where bureaucratic structures and civil service regulations frequently limit the adaptability of compensation systems, monetary rewards have a significant impact on how employees perceive fairness, equity, and their commitment to the organisation (Yang et al., 2018). Nevertheless, the correlation between financial rewards and employee work satisfaction in the Public Service is intricate and diverse. Although competitive salaries and comprehensive benefit packages are effective in attracting candidates to public sector employment, job security, career advancement opportunities, and the meaningfulness of work also have a significant impact on employee attitudes and behaviours (Idowu,  Soyebo & Adeoye, 2019). Moreover, the presence of a varied workforce in the Public Service, consisting of persons from different ethnic origins, educational levels, and professional areas, adds complexity to the comprehension of how financial rewards impact job satisfaction. Several studies have shown a correlation between higher pay and increased work satisfaction, emphasising the significance of financial incentives in fulfilling employees' fundamental needs and expectations (Lestari & Haryono, 2020). In contrast, other research has shown that non-financial aspects, such as the level of control over one's employment, the values and beliefs inside the organisation, and the chances for personal growth, may have a more significant impact on employee satisfaction compared to monetary rewards alone (Lestari & Haryono, 2020). Furthermore, the impact of monetary rewards on enhancing employee job satisfaction may depend on many contextual elements, such as the size of the organisation, sectoral disparities, and regulatory frameworks (Yang et al., 2018). Public Service organisations working in situations with limited resources may have difficulties in providing competitive pay and benefits, which might impact employee morale and retention rates. Although there is increasing interest in comprehending the influence of monetary rewards on employee work satisfaction in Cameroon's Public Service, there are still significant gaps and unsolved concerns in the existing research. Therefore, the researcher sought to the impact of monetary benefits on employee job satisfaction in Cameroon's Public Service".

1.2 Statement of the problem

Employee job satisfaction is a crucial factor in determining the efficacy and success of organizations in the Cameroon Public Service sector. Job satisfaction refers to an individual's own assessment of their work experience, including factors such as the work environment, job content, and rewards. It has a significant impact on employee motivation, commitment, and retention (Nurlaila & Nurdin, 2020). Monetary advantages have been a prominent area of study in relation to job satisfaction since they have a direct effect on employees' financial well-being and how they view their worth to the organization (Emerole, 2015). The importance of monetary advantages in influencing employee job satisfaction within the Public Service cannot be understated. Monetary benefits comprise several forms of rewards such as base income, bonuses, incentives, and fringe benefits (Safiullah., 2015). The Cameroon's Public Service, known for its bureaucratic framework, intricate laws, and commitment to financial limitations, has distinct difficulties in formulating and executing monetary benefit programmes that adequately address the varied requirements and expectations of its employees (Yang et al., 2018).  Cameroon's Public Service organizations have made significant investments in providing competitive monetary benefits to attract and retain talented employees. However, there are still doubts about the extent to which these benefits actually contribute to employee job satisfaction and overall organisational performance. Hence, the need to examine the impact of monetary benefits on employee job satisfaction in Cameroon's Public Service". 

1.3 Objective of the study

The broad objective of the study is to examine the impact of monetary benefits on employee job satisfaction in Cameroon's Public Service". The specific objectives is as follows

To analyze the extent to which monetary benefits contribute to employee job satisfaction in Cameroon's Public Service.

To examine the influence of monetary benefits on employee retention rates within Cameroon's Public Service.

To investigate the correlation between monetary benefits and employee job satisfaction in Cameroon's Public Service.

To proffer recommendations for optimizing monetary benefit schemes to enhance employee job satisfaction in Cameroon's Public Service.

1.4 Research Questions

The following questions have been prepared to guide the study

What is the extent to which monetary benefits contribute to employee job satisfaction in Cameroon's Public Service?

What is the influence of monetary benefits on employee retention rates within Cameroon's Public Service?

Is there a correlation between monetary benefits and employee job satisfaction in Cameroon's Public Service?

What are the strategies for optimizing monetary benefit schemes to enhance employee job satisfaction in Cameroon's Public Service?

1.5 Significance of the study

Findings of the study will be significant to the Cameroon civil service commission as it will contribute to overcoming the disadvantages of monetry incentive systems,hence to activate and enhance their positives. It will also benefit as it will provide them with the necessary information to help them devise appropriate ways to upgrade and develop incentive systems commensurate with the needs and motivation of workers. thereby enhancing their performance and increasing their tender for their work, and ultimately enabling them to perform their roles efficiently and effectively.

Findings of the study will be significant to the academic community as it will contribut to library resources and serve as a guide for future researchers who might want to further fill the gap provided in the study.

1.6 Scope of the study

The study focuses on the impact of monetary benefits on employee job satisfaction in Cameroon's Public Service". empirically, the study will analyze the extent to which monetary benefits contribute to employee job satisfaction in Cameroon's Public Service, examine the influence of monetary benefits on employee retention rates within Cameroon's Public Service, investigate the correlation between monetary benefits and employee job satisfaction in Cameroon's Public Service and proffer recommendations for optimizing monetary benefit schemes to enhance employee job satisfaction in Cameroon's Public Service.

Geographically, the study is delimited to ministry of education, Cameroon.

1.7 Limitation of the study

Like in every human endeavour, the researchers encountered slight constraints while carrying out the study. Insufficient funds tend to impede the efficiency of the researcher in sourcing for the relevant materials, literature, or information and in the process of data collection (internet, questionnaire, and interview), which is why the researcher resorted to a moderate choice of sample size. More so, the researcher will simultaneously engage in this study with other academic work. As a result, the amount of time spent on research will be reduced.

1.8 Definition of terms

Employee Job Satisfaction: Employee job satisfaction refers to the subjective evaluation of an individual's overall happiness, contentment, and fulfillment derived from their work experience within an organization. It encompasses various facets of work, including job content, work environment, relationships with colleagues, and perceptions of organizational support 

Monetary Benefits: Monetary benefits refer to financial rewards and incentives provided to employees by their employer as part of their compensation package. These benefits may include base salary, bonuses, profit-sharing, allowances, and other forms of direct financial compensation.

Public Service: Public Service refers to the sector comprising governmental agencies, organizations, and institutions responsible for delivering public goods and services to citizens. It encompasses a wide range of fields, including healthcare, education, law enforcement, public administration, and social welfare.

Non-monetary Factors: Non-monetary factors refer to aspects of the work environment and organizational culture that contribute to employee job satisfaction and well-being but are not directly related to financial compensation. These factors may include opportunities for career advancement, job autonomy, recognition, work-life balance, and the meaningfulness of work.