Employees’ Perception on Compensation and Benefits: The Case of Bangladesh Gas Fields Company Limited
Abstract
Employee compensation plays a major role in efforts to manage human resources
better. Its practices differ across employment units (e.g., organizations, business units,
and facilities) on several dimensions. The present descriptive study aims at measuring
the Bangladesh Gas Field Company Limited (BGFCL) employees’ perception on their
financial compensation and other benefits. The study also evaluates the impact of
compensation and benefits on employee productivity. To achieve the objectives, 152
employees of BGFCL were selected as sample and the required data from them were
amassed through mail questionnaire and interview schedule. The results of the study
testify that BGFCL employees’ perception towards basic salary structure, festival bonus
structure, incentive bonus structure, leave passage, and share of workers’ profit
participation fund facility are positive but their perception on different allowances
including lunch, washing and transport allowances are negative. It is also observed
from the study that BGFCL’s current compensation and benefit package has a positive
impact on employees’ productivity but is not capable of attracting and retaining
competent employees.