Anton Schlechter, Nicola Claire Thompson and Mark Bussin
The purpose of this paper is to investigate if the presence of non-financial rewards (specifically work-life balance, learning, and career advancement) were able to influence the…
Abstract
Purpose
The purpose of this paper is to investigate if the presence of non-financial rewards (specifically work-life balance, learning, and career advancement) were able to influence the perceived attractiveness of a job offering. A secondary objective was to establish if there were demographic differences, specifically, gender, race, and age differences in the manner in which these non-financial rewards influenced the perceived attractiveness of a job offer.
Design/methodology/approach
A quantitative research approach was followed and a 23 full-factorial experimental design utilised. Data were collected with two questionnaires via convenience (non-probability) sampling. The first job attraction questionnaire assessed the perceived level of attractiveness to one of eight randomly assigned experimental conditions (stimuli) that were expressed as eight fictitious job advertisements. Employees who responded were from various industries (n=180). The data collected were analysed using descriptive statistics and a full-factorial ANOVA. A second questionnaire was used to assess the perceived attractiveness of various elements of a typical total rewards package. The validity and reliability of the second questionnaire was assessed using Exploratory Factor Analysis utilising the Principal Axis Factoring extraction method, employing a Direct Oblimin (i.e. Oblique) rotation, and calculating Cronbach α coefficients, respectively. Descriptive statistics were calculated for the composite factors or reward elements.
Findings
The non-financial reward elements (work-life balance, learning, and career advancement) were found to have statistically significant main effects on employees’ perceived attractiveness of a job offering. Gender was further found to also have a significant main effect, indicating that the presence of non-financial rewards was more attractive in job offerings for women than for men.
Research limitations/implications
The sample group was obtained by means of convenience sampling and may not have been adequately representative of the target population.
Practical implications
Organisations may benefit from these results by implementing and/or emphasising non-financial rewards as part of a total rewards package when they attempt to attract or recruit potential employees. Organisations that seek to attract a higher number of female employees may benefit from the results by incorporating or further emphasising non-financial rewards as part of a targeted job offer.
Originality/value
Substantial research exists that has identified reward elements that are effective in attraction strategies, but the authors are unaware of any literature where use was made of an experimental design to empirically show that non-financial rewards effect/influence perceived job attractiveness. The current study succeeded in identifying that the presence of non-financial rewards, as part of a job advertisement led to significantly higher levels of job attractiveness in prospective employees. Also, that there are gender differences in the extent to which the presence of non-financial rewards effect perceived attractiveness of a job offer.
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– This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
The late Steve Jobs once said that hiring the best people was a massive factor in his own success. Indeed, the Apple co-founder admitted going to “exceptional lengths” to get the right talent on board. Few will question the rationale of such an approach. After all, plenty evidence shows that talented employees invariably play a considerable role in organizational success. Engaging and retaining key workers figures prominently on the agenda of many firms. That’s hardly surprising. But the increasingly global nature of business means that its importance has become even greater. More and more competitors are entering the fray and stretching an already limited talent pool. Companies able to boast such assets have to pull out all the stops to keep hold of them.
Practical implications
The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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G. V. Shruti Lakshmi, Mili Dutta and Pranab Kumar
Talent management is conducted to maximize an organization's overall performance and efficiency which helps to serve as a competitive advantage. Human resource management is a…
Abstract
Talent management is conducted to maximize an organization's overall performance and efficiency which helps to serve as a competitive advantage. Human resource management is a concept which includes human-related activities, but talent management is a strategy which helps to get new talent, develop their skill sets and provide better employee engagement and experience to retain the top potential employees in an organization. Improvement in recruiting and retention of a workforce results from a well-executed talent acquisition approach. In the 21st century, employee retention has become a primary concern for the organizations specially with work from home and hybrid models.
The workforce for tomorrow is going to be very different from what it has been. Technology is transforming the way people work within organizations. The workplace is rapidly evolving in terms of people and processes and is going through a lot of technological changes. The terminologies such as automation, artificial intelligence, augmented reality and block chain technologies are slowly becoming part of the workplace and everyday activities of the organization.
The challenges are many and especially post-pandemic organizations are going through some major changes such as a mindset shift of employees to take up more remote working opportunities, building virtual teams, increase in the gig economy workers (contractual workers) and a diverse workforce which makes it even more challenging for the organization to manage and retain talent.