Understanding talent attraction: perceived attractiveness of financial reward elements

Competition for scarce human capital have emphasised the need for organisations to develop effective attraction strategies that entice knowledge workers (employees with scarce skills). Consequently, it is important for organisations to understand which elements of the Total Reward Model are perceived as attractive rewards or inducements for knowledge workers to ensure that their attraction strategies are aligned with the rewards that are valued and preferred by knowledge workers. The aim of the present study was to investigate a set of chosen financial reward elements (remuneration, employee benefits and variable pay) to determine whether knowledge workers would perceive them as attractive inducements when considering a job position. Financial rewards such as remuneration have traditionally been a defining feature of an employment relationship. In order to attract knowledge workers and maintain a competitive advantage, it is necessary for organisations to understand whether knowledge workers are attracted to different types and levels of financial rewards. This is applicable in South Africa where the shortage of talent is a largely due to the exodus of scarce skills (human capital) as there are often more lucrative opportunities overseas. Therefore attractive financial rewards or inducements are needed to attract talent in South Africa.

Grantor dc:publisher.institution

Organisational Psychology

Year dc:date.issued

2014

Author dc:creator

• Hung, Angel

Advisor dc:contributor.advisor

• Schlechter, Anton

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/8536

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/8536