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Title Publication Preview Source Performance Management and Compensation as Drivers of Organization Competitiveness: The Philippine Perspective
Posted by Pamela Resurreccion
Authors Resurreccion, Pamela
Publication date 2012
Journal International Journal of Business and Social Science
Volume 3
Issue 21
Pages 20-30
Abstract With the influx of foreign multi-national companies in the Philippines and the inevitably increasing competition as a result of globalization, Filipino-owned small and medium enterprises (SMEs) are confronted with the challenge of changing paradigms of bureaucracy, centralization, stability, static and rigid policies and procedures, and sheer complacency with traditional practices. The study was conducted to determine the extent of implementation of select performance management and compensation practices in Filipino-owned SMEs and its underlying relationships with organizational competitiveness. This study found that human resource management practices in performance management and compensation, particularly employee benefits were all found to be significant predictors of organizational competitiveness. This finding signify that Filipino – owned companies are giving more emphasis on employee benefits to support its thrust of achieving competitiveness, further suggesting that employees are more motivated to perform if employee benefits that allows flexibility and convenience are provided.
Index terms / Keywords performance management; compensation; employee benefits; organizational competitiveness; human resource management practices; Philippines