Actuarial resources in high demand, what makes them stay?
type: CreativeWork
description: The shortage of qualified actuaries and actuarial science resources in general, remains a challenge for organisations operating in the South African financial and insurance sectors. Access to such resources are a business imperative for these organisations and, therefore, there is a compelling business case to better understand which total rewards elements contribute most to the retention of individuals that possess these critical and also scarce skills. Furthermore, it would seem that traditional strategies that are meant to retain actuaries and/or actuarial science resources are no longer effective and new and innovative approaches in terms of their design and implementation need to be found. The aim of the present study was, therefore, to investigate the retention of actuarial resources and identify the total rewards elements that will be most useful in creating the conditions that are conducive for them to stay within their respective organisations. Limited research in which the total rewards elements that may contribute most to the retention of actuarial resources, could be found. Greater insight in this area will hopefully enable organisations to develop reward policies and practices that are able to more effectively attract and retain actuarial resources. A descriptive research design and quantitative approach was employed to estimate the total rewards preferences of actuaries, in other words which reward elements they would prefer and that may be related to their intention to stay. Using a non-probability convenience sampling approach, primary data was collected by means of an online field survey (n = 135). The questionnaire that was used to collect data, included a total rewards sub-scale (21 items), a reward preferences sub-scale based on best-worst scaling (10 items), a job satisfaction subscale (6 items), an intention to stay sub-scale (4 items), an affective commitment sub-scale (6 items) and a single open-ended question, which was optional. Data was an…
abstract: The shortage of qualified actuaries and actuarial science resources in general, remains a challenge for organisations operating in the South African financial and insurance sectors. Access to such resources are a business imperative for these organisations and, therefore, there is a compelling business case to better understand which total rewards elements contribute most to the retention of individuals that possess these critical and also scarce skills. Furthermore, it would seem that traditional strategies that are meant to retain actuaries and/or actuarial science resources are no longer effective and new and innovative approaches in terms of their design and implementation need to be found. The aim of the present study was, therefore, to investigate the retention of actuarial resources and identify the total rewards elements that will be most useful in creating the conditions that are conducive for them to stay within their respective organisations. Limited research in which the total rewards elements that may contribute most to the retention of actuarial resources, could be found. Greater insight in this area will hopefully enable organisations to develop reward policies and practices that are able to more effectively attract and retain actuarial resources. A descriptive research design and quantitative approach was employed to estimate the total rewards preferences of actuaries, in other words which reward elements they would prefer and that may be related to their intention to stay. Using a non-probability convenience sampling approach, primary data was collected by means of an online field survey (n = 135). The questionnaire that was used to collect data, included a total rewards sub-scale (21 items), a reward preferences sub-scale based on best-worst scaling (10 items), a job satisfaction subscale (6 items), an intention to stay sub-scale (4 items), an affective commitment sub-scale (6 items) and a single open-ended question, which was optional. Data was an…
author: Muzondo, Lyn Nyasha
language: eng
date published: 2018
date modified: 2026-07-22T22:23:39Z
provider: University of Cape Town
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: School of Management Studies

PropertyValue
property ID: Handle
value: http://hdl.handle.net/11427/29508