Exploration of the Implications of Monetization of Workers’ Fringe Benefits in A Nigerian Higher Institution

摘要

This study investigates monetization of fringe benefits and workers commitment at AdekunleAjasin University, Ondo State. Theories of Social Exchange and Rational Choice were adopted to providea basis for the explanation of commitment. A total of 250 workers comprising 129 males and 121 femalesparticipated in the study. The respondents were systematically selected from four faculties, comprisingthirty-one academic departments and other administrative sections of the university. Their age rangesbetween 20 years and 69 years with a mean age of 38 years. Different categories of staff such as senior,middle and junior members of academic and non-academic staff were randomly selected. Questionnairesand unstructured in-depth interviews were used to collect data from the participants. Content analysis wasused for qualitative data, while descriptive and inferential statistics such as frequency distribution, chisquareand logistic regression were used to analyze quantitative data. Quantitative results revealed that sexand education were significantly related with commitment (χ2= 39.632, p0.05). Though workers incomewas affected, but the monetization of fringe benefits did not improve their welfare because of the rate atwhich market prices of goods and services were shooting up. And this affected their loyalty andproductivity towards the university. Also, the policy was not seen as benefiting to the workers equallybecause of the disparity in their salaries and allowances unlike those occupying the public figures.Qualitative results show that commitment results from interplay of factors such as appreciation ofcurrency, improvement of working conditions and workers participation in decision-making at all level.Therefore, it was recommended that rewards should be properly planned towards commitment, participationof workers should be allowed in decisions that affect them at the policy level, and inflation should becontrolled for, to enhance workers purchasing power for productivity to be achieved.