Evaluation of remuneration preferences of knowledge workers

Mark H.R. Bussin · Natasha Brigman

25 citations0/0 files storedSA Journal of Human Resource Management

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Human Resource and Talent Management Employee Performance and Management Employer Branding and e-HRM

Abstract

Orientation: This research evaluates the remuneration preferences of knowledge workers as a retention strategy in an integrated international energy and chemical company, using the WorldatWork Total Rewards Model.Research purpose: Organisations may benefit from understanding their employees’ preferential remuneration benefits, in particular, knowledge workers as a scare skill requiring specific retention strategies.Motivation for the study: To understand the remuneration preferences for the retention of a group of knowledge workers within a large organisation based in South Africa. The research is necessary within organisations in South Africa impacted by scarce skills and a need to attract and retain knowledge workers. If remuneration preferences are not considered as part of retention, there is a risk knowledge workers may leave for preferential opportunities.Research approach/design and method: A total of 199 employees from a group of 1229 voluntarily participated in the survey. An electronic-based questionnaire was developed from the WorldatWork rewards model. The results from the surveys were analysed with descriptive statistics and inferential statistics.Main findings: No significance in reward strategies was found for age, level of performance or number of years of service. There was also no significant difference between the knowledge workers number of years of service and their intention to remain with the organisation. There was a significance in gender for benefits, flexibility and performance development preferences.Practical/managerial implications: The development of retention strategies should consider reward preferences of male and female employees.Contribution/value-add: Knowledge workers’ reward preferences do not differ on demographic variables, except gender. This contradicts some literature in the area.

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2017Doing Research in Business and Management 2016Talent management motives and practices in an emerging market: A comparison between MNEs and local firms 2016Instilling affective commitment: insights on what makes knowledge workers want to stay 2012Impact of demographic variables on voluntary labour turnover in South Africa 2017Total rewards that retain: A study of demographic preferences 2017The Relevance of Financial and Non-Financial Compensation on Professionalism and Lecturers Performance: Evidence from Makassar Private Universities (Indonesia)

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