Year: 2025
Type: article
Study design: Observational Study
Abstract: This study examines the remuneration practices and employee satisfaction levels at T.R. Venkatachalam Chetty Cashews, a major player in the cashew manufacturing and export industry. It investigates both monetary and non-monetary compensation, aiming to understand their impact on employee motivation, retention, and performance. Using primary data collected from 70 employees through simple random sampling, the study reveals mixed levels of satisfaction with wages, benefits, and incentives. While many employees appreciate performance-based rewards and paid time off, concerns remain over compensation fairness, competitiveness, and transparency. The findings emphasize the need for updated salary benchmarks, standardized pay structures, and expanded non- financial benefits. Overall, the study underscores that a balanced and transparent remuneration system is essential for enhancing employee morale and organizational effectiveness. The findings highlight that while a significant portion of employees report satisfaction with their compensation, disparities exist across departments and roles. Although 80% receive performance-based incentives, concerns over fairness and transparency remain. Paid time off and other non-monetary benefits are appreciated but inconsistently offered. A notable insight is that 52% of employees express high overall satisfaction, signaling a moderately successful remuneration approach. To address the identified gaps, the study suggests aligning salaries with industry benchmarks, offering skill-based incentives, increasing transparency in bonus allocation, and expanding non- financial benefits such as flexible schedules and childcare support. Leadership and management practices received favorable reviews, indicating a supportive work environment.
Institution: Sri Manakula Vinayagar Educational Trust
Language: English
Subfield: Human Factors and Ergonomics
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4413069552