AN EVALUATION OF THE RELATIONSHIP BETWEEN STAFF REMUNERATION AND PRODUCTIVITY OF PHARMACEUTICAL FIRMS IN NIGERIA

This study evaluated the relationship between staff remuneration and productivity of pharmaceutical firms in Nigeria. The study specifically examined the relationship between yearly bonus and return on investment and evaluated the relationship between staff salaries & wages and return on investment of Pharmaceutical firms in Nigeria. Data of the study were sourced from annual reports of the five (5) sampled pharmaceutical firms. Hypotheses raised were analysed using Correlation Coefficient, result of the hypotheses shows that yearly bonuses of pharmaceutical firms in Nigeria positively and significantly relate with the firms return on investment with Pearson Correlation result of .567**and P-value of 0.000. This implies that Yearly bonuses has a positive influence on return on investment of Pharmaceutical firms in Nigeria. Also, the findings showed that staff salaries and wages of pharmaceutical firms in Nigeria positively and significantly relate with the firms return on investment with Pearson Correlation result of. .665**and P-value of 0.000. This implies that Staff salaries and wages does significantly relate with return on investment of Pharmaceutical firms in Nigeria. Based on the findings, the study recommends among others that pharmaceutical firms should increase their yearly bonus such as pension, gratuity and other staff retirement benefits packages. This study has proved that the presence of such reserves in the income statement of the pharmaceutical firms serve as motivation for the employees of the firms