STUDYING THE RELATIONSHIP BETWEEN FINANCIAL COMPENSATION AND ORGANIZATIONAL COMMITMENT AMONG THE WORKERS IN IRAQ BANKS

Abstract

This research examines the relationship between financial compensation and organizational commitment among workers in the banking industry in Iraq. This research is important in addressing the previous gap in types of financial compensation such as salaries, bonuses, and wages with a stronger relationship with organizational commitment. Although these variables have been extensively studied, few studies have explored their relationship to organizational commitment. The quantitative methodology is used to explore the relationship between financial compensation and regulatory compliance. In data collection, a questionnaire was conducted on 150 workers working in several selected banks in Iraq. Simple random sampling was used to select respondents in the survey. The results of the research showed that there is a statistically significant relationship between financial compensation such as salaries, bonuses, rewards and organizational commitment. Besides, wages are determined on merit as the dominant factor in influencing organizational commitment among the employees of the bank under study. The research findings contribute to a better understanding by all stakeholders of the application of the theories and model regarding aspects of financial compensation and regulatory compliance.