Survey of pay satisfaction, job satisfaction and employee turnover in selected business organisations in Lagos, Nigeria

The study was an attempt at investigating the relatedness of pay satisfaction, job satisfaction and employee turnover in business organizations in Lagos Nigeria. Data were collected from workers of various organizations who were students of a part time educational programme in Lagos, Nigeria. Of the 140 questionnaires distributed to the survey participants, only 96 of the 120 questionnaire returned were usable. The survey used Pay Satisfaction Scale (PSS), the Minnesota Satisfaction Questionnaire (MSQ) and Turnover Intention Questionnaire (TIQ) as measures in the study. The data obtained were analyzed using Correlation Analysis and Regression Analysis. The results of the analysis indicated that the relationship between pay satisfaction and employee turnover intention was positive, this was the expected direction. The result also confirmed the second hypothesis that there was a positive association between pay satisfaction and job satisfaction and lastly the study suggested that, pay satisfaction and job satisfaction could jointly predict employee turnover. Implications of the findings to the challenge of achieving effective growth and enhanced organizational performance among managers were discussed.Keywords: Pay Satisfaction, job satisfaction, employee turnover, organizational performance