REWARD SYSTEM MANAGEMENT AND HUMAN CAPITAL MANAGEMENT EFFICIENCY OF THAI SPORTS EQUIPMENT BUSINESS
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Abstract
This research aimed to develop a correlation model of reward system management with human capital efficiency of Thai sports equipment business. This study was a quantitative research. Data were collected from questionnaires from 399 business establishments selling sports equipment that have registered with the Department of Business Development in 2019. Structural Equation Model (SEM) was applied to analyze the data. The results demonstrated that the reward system structure had both direct and indirect effects on the human capital efficiency with statistical significance. In terms of indirect effects, the reward management process of the sports equipment business in Thailand was found to be the mediator. When the structural elements of the reward system of the sports equipment business in Thailand was considered, it was discovered that business should prioritize the level of reward and the type of the reward with the fairness of reward allocation leading to the increase in the human capital efficiency. Further, the results illustrated that reward management system had a direct effect on the human capital efficiency with statistical significance. Thus, any organization aiming to optimize the human capital management of its business should value the importance of encouraging employees to participate and promoting communication as well as fairness of the reward management leading to more efficient in managing human capital.
Keywords: Reward system structure Reward management system Human capital management efficiency
Article Details
The published article is a copyright of the Academic Journal of Thailand National Sports University. The passage appeared in each article in this academic journal is a perspective of each author which is not related to the journal. Each author is required to be responsible for all components of his/her own article. If there are any mistakes, each author must be responsible for those mistakes on his/her own.
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