Analysis Of Providing Compensation In Improving Employee Performance According To An Islamic Economic Perspective (Case Study Of Pt. Sarana Lampung Ventura)
DOI:
https://doi.org/10.38035/dijefa.v5i5.3676Keywords:
Islamic compensation, employee performance, venture capitalAbstract
This think about looks at the crossing point of Islamic financial standards and stipend hones in making strides representative execution, centering on PT. Sarana Lampung Ventura, an Indonesian wander capital company. Through subjective library inquire about, the consider analyzes how Islamic-based recompense frameworks adjust with modern human asset administration hones and their affect on representative efficiency, work fulfillment, and organizational commitment. The discoveries uncover that PT. Sarana Lampung Ventura’s recompense hones, counting reasonable compensation, convenient installments, and profit-sharing plans, for the most part adjust with Islamic financial standards. This arrangement contributes to expanded representative efficiency, upgraded work fulfillment, and lower turnover rates. In any case, challenges continue in adjusting advertise weights with strict adherence to Islamic standards and creating comprehensive measurements for representative commitments. The consider proposes a few suggestions to assist upgrade the company’s remuneration framework, counting executing a comprehensive execution administration framework that joins both monetary and non-financial measurements adjusted with Islamic values, growing representative benefits to reflect Islamic social obligation, and presenting skill-based pay components. This inquire about contributes to the developing body of writing on Islamic human asset administration, advertising experiences into the down to earth application of Islamic financial standards in present day trade settings. It highlights the potential for Islamic-based recompense hones to drive worker execution whereas keeping up moral and devout keenness. The consider concludes that whereas PT. Sarana Lampung Ventura has made noteworthy advance in adjusting its emolument hones with Islamic standards, there’s room for advance upgrade to reinforce its framework and possibly lead to indeed more noteworthy worker execution and organizational victory inside the system of Islamic financial matters.
References
Abdelzaher, D. M., Kotb, A., & Helfaya, A. (2019). Eco-Islam: Beyond the Principles of Why and What, and Into the Principles of How. Journal of Business Ethics, 155(3), 623–643. https://doi.org/10.1007/s10551-017-3518-2
Abdullah, M. A., & Anderson, A. (2015). Islamic Financial Literacy among Bankers in Kuala Lumpur. Journal of Emerging Economies and Islamic Research, 3(2), 79. https://doi.org/10.24191/jeeir.v3i2.9061
Al-Momani, H. (2021). A Quality Management and Excellence Philosophy from an Islamic Standpoint BT - Techniques, Tools and Methodologies Applied to Quality Assurance in Manufacturing (J. L. García Alcaraz, C. Sánchez-Ramírez, & A. J. Gil López (eds.); pp. 139–171). Springer International Publishing. https://doi.org/10.1007/978-3-030-69314-5_7
Ali, A. J. (2010). Islamic challenges to HR in modern organizations. Personnel Review, 39(6), 692–711. https://doi.org/10.1108/00483481011075567
Ali, M. A., Shirazi, S. Z., Arshad, S. A., & Kemal, M. U. (2024). Assessment of Human Resource Management Framework from Islamic Paradigm: Proposition of an Islamic Model of Human Resource Management. Bulletin of Business and Economics (BBE), 13(1 SE-Articles). https://doi.org/10.61506/01.00267
Allami, A. F. (2024). Professional Islamic Charities. The Islamic Welfare State: Muslim Charity, Human Security, and Government Legitimacy in Pakistan, 144.
Astrachan, J. H., Binz Astrachan, C., Campopiano, G., & Baù, M. (2020). Values, Spirituality and Religion: Family Business and the Roots of Sustainable Ethical Behavior. Journal of Business Ethics, 163(4), 637–645. https://doi.org/10.1007/s10551-019-04392-5
Awais, M., Öztürk, A. O., Bhatti, O. K., & Ellahi, N. (2024). The Islamic Economic System: Cultural Context in a Global Economy. Taylor & Francis.
Aznar-Díaz, I., Reche, M. P. C., Trujillo-Torres, J.-M., & Romero-Rodríguez, J.-M. (2022). Gamification Through Mobile. Cases on Historical Thinking and Gamification in Social Studies and Humanities Education, 142.
Badshah, W. (2020). Islamic corporate governance and sustainable financial performance: A phenomological study.
Bhat, B. A. S., & Rather, T. A. G. (2012). Child Labour in the Cotton Industry of Uzbekistan: a sociological study.
Carnevale, J. B., & Hatak, I. (2020). Employee adjustment and well-being in the era of COVID-19: Implications for human resource management. Journal of Business Research, 116, 183–187. https://doi.org/https://doi.org/10.1016/j.jbusres.2020.05.037
Choong, K. K., & Islam, S. M. (2020). A new approach to performance measurement using standards: a case of translating strategy to operations. Operations Management Research, 13(3), 137–170. https://doi.org/10.1007/s12063-020-00159-8
Cudjoe, M. A., Abdul Latiff, A. R., Kasim, N. A. A., & Osman, M. N. H. (2023). Socially responsible investment practices and implementation approaches: A case study of listed extractive firms in Ghana. Cogent Business & Management, 10(2), 2238338. https://doi.org/10.1080/23311975.2023.2238338
Edo Rahman, M., Ramadhan SY, T., Refliandi, I., & Yusral Fuadi, M. (2024). Analysis of Overpayment Practices in Arisan with the Principles of Sharia Economic Law. Hakamain: Journal of Sharia and Law Studies, 3(1 SE-Articles), 48–58. https://doi.org/10.57255/hakamain.v3i1.331
Eletu, S. H. (2023). Work Life Balance and Employee Performance: A Study of University of Ilorin Teaching Hospital. Kwara State University (Nigeria).
Hamed, S. (2024). Making Tradition Possible in Canada: Islamic Organizations and the Problem of Commitment. University of Toronto (Canada).
Hameed, D., & Siddiqui, D. A. (2021). Exploring the Hidden Struggle for Shari’a Compliance: Shari’a Advisors’ Moral and Ethical Ideology, and its Effect on the Management Tactics for Fatwa Repositioning in their Favor, with the Mediatory Role of Demographic, External and Personal Factors. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3756689
Haron, L. (2020). Moderating Effect of Religious Beliefs on Relationship between Employee Reward and Turnover in Private Hospitals of Samburu County. KeMU.
Hasibuan, M. I., & Dalimunthe, N. (2023). Analisis Kepatuhan Sistem Upah Karyawan Lembaga Keuangan Syariah di Indonesia Sesuai dengan Hukum Ketenagakerjaan. Innovative: Journal Of Social Science Research, 3(6 SE-Articles), 5393–5403. https://j-innovative.org/index.php/Innovative/article/view/6991
Helfaya, A., Kotb, A., & Hanafi, R. (2018). Qur’anic Ethics for Environmental Responsibility: Implications for Business Practice. Journal of Business Ethics, 150(4), 1105–1128. https://doi.org/10.1007/s10551-016-3195-6
Hidayah, N. N., Lowe, A., & Woods, M. (2019). Accounting and pseudo spirituality in Islamic financial institutions. Critical Perspectives on Accounting, 61, 22–37. https://doi.org/https://doi.org/10.1016/j.cpa.2018.09.002
Hoepner, A. G. F., & Yu, P.-S. (2023). Responsible Investors and Company Standards: Follow the Money to Rate the Raters BT - Encyclopedia of Business and Professional Ethics (D. C. Poff & A. C. Michalos (eds.); pp. 1586–1605). Springer International Publishing. https://doi.org/10.1007/978-3-030-22767-8_34
Iswahyudi, M. S., Haryadi, D., Napisah, S., Subagja, A. D., Waty, E., Firdaus, A., Desi, D. E., Jati, P., Irmadiani, N. D., & Afifah, N. (2023). Manajemen Pengembangan Bisnis: Teori Dan Panduan Komprehensif. PT. Sonpedia Publishing Indonesia.
Jakaria, R. B., Sukmono, T., & Sumarmi, W. (2022). Buku Ajar Manajemen Organisasi dan Sumber Daya Manusia. Umsida Press, 1–214.
Javed, B., Fatima, T., Yasin, R. M., Jahanzeb, S., & Rawwas, M. Y. A. (2019). Impact of abusive supervision on deviant work behavior: The role of Islamic work ethic. Business Ethics: A European Review, 28(2), 221–233. https://doi.org/https://doi.org/10.1111/beer.12212
Jing, T. (2022). Governance of the State BT - The Origins and Continuity of Chinese Sociology (T. Jing (ed.); pp. 291–403). Springer Nature Singapore. https://doi.org/10.1007/978-981-19-5681-2_6
Jolliffe, P., & Foster, S. (2022). Different Reality? Generations’ and Religious Groups’ Views of Spirituality Policies in the Workplace. Journal of Business Ethics, 181(2), 451–470. https://doi.org/10.1007/s10551-021-04951-9
Khan, S. A., Sheikh, A. A., Hassan, N. M., & Yu, Z. (2024). Modeling the Intricate Association between Sustainable Service Quality and Supply Chain Performance: Moderating Role of Blockchain Technology and Environmental Uncertainty. In Sustainability (Vol. 16, Issue 11). https://doi.org/10.3390/su16114808
Mansour, A. (2019). The influence of Islamic values on retail brand equity and store loyalty: a Saudi Arabian perspective. https://repository.mdx.ac.uk/item/88790
Mohammed, N. O. (2019). Organizational Culture Practices and Employees’ Productivity of Selected Commercial Banks in Ilorin Metropolis. Kwara State University (Nigeria).
Mohd-Ramly, S., & Omar, N. A. (2017). Exploring the influence of store attributes on customer experience and customer engagement. International Journal of Retail & Distribution Management, 45(11), 1138–1158. https://doi.org/10.1108/IJRDM-04-2016-0049
Monroe, K. R. (2023). When Conscience Calls: Moral Courage in Times of Confusion and Despair. University of Chicago Press.
Omer, A. M. (2023). The Impact of Financial Inclusion on Poverty Alleviation Through Islamic Banks. Sakarya Universitesi (Turkey).
Oseni, K. G. (2022). Application of Islamic Business Ethics in Selected Markets in Kwara South on the Basis of Al-Gh?ryan?’s Mudawwanah. Kwara State University (Nigeria).
Rabbani, M. R. (2022). Fintech innovations, scope, challenges, and implications in Islamic Finance: A systematic analysis. International Journal of Computing and Digital Systems, 13(1), 579–608. https://doi.org/10.12785/IJCDS/130147
Saripalli, S. H. (2021). Transforming Government banking by leveraging the potential of blockchain technology. Journal of Banking and Financial Technology, 5(2), 135–142. https://doi.org/10.1007/s42786-021-00035-4
Shi, L., He, Y., & Onishi, M. (2023). Effect of the Internal Agency Problem on Risk-Sharing Incentive Contracts in Public–Private Partnership Projects. Journal of Construction Engineering and Management, 149(12), 4023126. https://doi.org/https://doi.org/10.1061/JCEMD4.COENG-13727
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/https://doi.org/10.1016/j.jbusres.2019.07.039
Tamizi, N. A., Lee, U. H. M. S., & Ahmad, N. A. (2024). Effects of Integrity Practice on Service Quality: Evident from Zakat Services Center in Public University. International Journal of Academic Reserach in Economics and Management Sciences, 13(2).
Testa, S., Atawna, T., Baldi, G., & Cincotti, S. (2022). The innovation potential of Islamic crowdfunding platforms in contributing to sustainable development. European Journal of Innovation Management, 25(6), 1008–1035. https://doi.org/10.1108/EJIM-11-2021-0547
Tok, E., & Yesuf, A. J. (2022). Embedding Value-Based Principles in the Culture of Islamic Banks to Enhance Their Sustainability, Resilience, and Social Impact. In Sustainability (Vol. 14, Issue 2). https://doi.org/10.3390/su14020916
Ullah, H. (2014). Shari’ah compliance in Islamic banking. International Journal of Islamic and Middle Eastern Finance and Management, 7(2), 182–199. https://doi.org/10.1108/IMEFM-06-2012-0051
van der Merwe, S. (2023). Caught in the Crossfire: Employers of Emolument Attachment Order Debtors and the Challenge to Achieve Proportionally Fair Wage Deductions. Potchefstroom Electronic Law Journal, 26(26). https://doi.org/10.17159/1727-3781/2023/v26i0a15469
Yusuf, M. Y., & Bahari, Z. B. (2015). Islamic corporate social responsibility in Islamic banking: Towards poverty alleviation. Ethics, Governance and Regulation in Islamic Finance, 73(5), 92–99.
Zaini, M. (2021). Strengthening The Quality of Human Resources (HR) In Improving The Quality of Islamic Education in Madrasah. Didaktika Religia, 9(1 SE-Articles), 81–100. https://doi.org/10.30762/didaktika.v9i1.3164
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Muhammad Naufal Arfani, Fatih Fuadi, Dimas Pratomo

This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA).