Understanding talent attraction: perceived attractiveness of financial reward elements

Hung, Angel

Understanding talent attraction: perceived attractiveness of financial reward elements

Master Thesis

2014

Publisher

University of Cape Town

Department

Organisational Psychology

Faculty

Faculty of Commerce

Abstract

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.

Description

Includes bibliographical references.

Keywords

Organisational Psychology

Reference:

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Masters

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