Compensation factors and coping styles: Cross country study on faculty members

Abstract

Researches of the past have given several findings on whether “money or compensation” is a factor which influence one’s decision to continue or leave any organisation. Many research reports support the argument with a “yes”, while others support with a “no”. In order to apply those findings and accept such reports as authentic, a study was conducted on postgraduate faculty members in academic institutions. Institutions across countries were approached to collect data. The data collected was subjected to concrete statistical tools. The findings indicate that the compensation factors significantly influence faculty member’s decision to stick within the organisation or switch over to other institutions. Here, the study observed that the coping styles of faculty members may vary from ‘resignation’ to ‘forced adjustment’. The data from various countries were collected and analysed. It was observed that compensation factor is a major factor which influences faculty member’s decision to ‘leave the organisation’. The compensation policies of the academic institutions directly influence the retention of academic staff. The implication part of the research further indicates the consequences of weak compensation policies at the institutional level. The study envisaged a ‘strategic compensation policy’ which will be mutually beneficial to institution and faculty development.