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DESIGN AND IMPLEMENTATION OF STAFF REMUNERATION SYSTEM
ABSTRACT
This project research on the topic “Design and Implementation
of staff remuneration system” is aims at making the reader to understand the
need of making or paying employees entitlement timely without deficiencies.
Before now the process of staff payment or remuneration in an organization was
highly flawed and filled with anomalies such as duplicate payments staff, amiss
of staff naming during vetting process, miscalculation of staff monetary
benefit, delay in concluding the general process and lots more. But with the
advent of this new system it is certain that the above name challenges has been
effectively brought to rest. Also included in this research work are a brief
overview on remuneration, types of remuneration, which are commission, salary
and wage. Furthermore, types of reward objective of remuneration which include
attraction good work performance, commitment and finally, the concept of direct
and indirect pay.
CHAPTER ONE
INTRODUCTION
Introduction
Remuneration is the monetary compensation that one receives
exchange for the work or services performed. Typically, this consist of
monetary rewards, also referred to as wage or salary. A number of complementary
benefits, however, the increasingly popular remuneration mechanism. Thus it is
financial compensation received by a officer/employed/staff of an organization.
It typically a metric of salary, bonuses, shares of and/or call options on the
company stock, benefits, and perquisites, ideally configured to take into
account government regulations, tax law, the desires of the organization and
the executive and rewards for performance. The past decades starting with the
1980’s saw a dramatic rise in executive pay in the country relative to that of
overage workers wage in Nigeria, and to lesser extent in a number of other
countries. Observers differ as to whether this is a natural and beneficial
result of competitive for scare business talent that can add greatly to stock
holder value in large companies/organizations. In a modern corporation Chief
Executive Officers (CEOs) and other top executives are often paid salary plus
short-term incentives or bonuses. This combination is referred to as total cash
compensation (TCC). Short-term incentives usually are formular-driver and have
some performance criteria attached depending on the role of the executive.
1.1 Theoretical
Background
Adequate and effective payment of staff remuneration,
salaries, allowances, entitlement or emolument has been a great source of
concern challenge over the years especially in Ritman College, Ikot Ekpene.
Challenges such as duplicate payment of remuneration to a staff, wrong
calculation or arithmetics when competing the total remuneration to staff.
Possible tampering of staff benefits of those competing the payments, time
compilation, in the general process of compilation, possible omission of
mistake of inclusion of staff names and lots more. But this new system after
implementation will bring all the above mentioned challenges and the likes to
rest, and also improve and increase the spirits and confidence of managers,
staff at various levels or organization as it regards security, efficiency and
effectiveness in all the remuneration processes.
Statement of the Problem
As mentioned previously, great problems have been seen when
processing the remuneration of staff in organization/institutions, such as time
delay or factor, duplicate payment of entitlement, intrusion to
individuals/staff account. The problem of familiarity with the existing system
which has made users to endure the general problems been encountered or
experienced with the system. The problem of possible Ostracization or omission
of staff name or identify when recording the remuneration.
Aims and Objectives of the Study
The aim of this research is to design and implement a system
for the analysis of staff remuneration. The objectives of this study includes:
To develop a system that will be used for the analysis of
staff remuneration.
To create a new technology that will have a long standing and
positive effects in the management of staff entitlements.
To developed a system that will prevent the incessant
tampering/attempt of staff money.
To identify the short coming connected to the existing
method.
Significance of the Study
The significance pf the study includes:
It would help reduce the level of intrusion existing in our
organization of management.
Managers/users of the system will fell or experience utmost
relieve and convenience when using the system as it regards timeliness in all
the process.
It would help sanitize our companies, institution and
organization of duplicate payment of staff.
It would help to calculate the general allowance, salaries to
staff.
Scope of the Study
The scope of this research cover the analysis of staff
remuneration system, with reference to Ritman College as the case study in Ikot
Ekpene.
Organization of the Research
This project work is divided into five chapters. Chapter one
starts with the introduction, theoretical background, statement of the problem, aims and objective
of the study, scope of the study, organization of the research and definition
of terms. Chapter two focuses on the review of related literature, chapter three
is concerned with the system analysis and design implementation and
documentation which are system design diagram, choice of programming, analysis
of modules, programming environment, hardware/software requirements and
implementation. Chapter five contains summary, conclusion, constraint of the
study and recommendation.
Definition of Terms
Barter: To exchange goods or services in return for other
goods or services.
Contract: A formal or legally bonding agreement.
Extrinsic: Not an essential part of something, coming or
operating from outside something.
Intrinsic: A basic essential part of something as one of it’s
features.
Periodic: Occurring or appearing at a regular intervals in regular cycles.
Retirement: The act of leaving a job or career at or near the
usual age for doing so, or the state of having left a job or career.
Remuneration: A payment or reward for losses sustained or in
convenience.
Subsidize: to reduce the cost of something by providing a
subsidy or a monetary gift/contribution to somebody or something, especially to
pay expenses.
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