A Mixed Methods Exploration of Measurement, Impact and Strategy for Affirmative Action and Socio-economic Justice in the South African Financial Sector

Abstract

Socioeconomic transformation in post-apartheid South Africa is regulated by affirmative action (AA) and employment equity legislation. This paper aims to report on the empirical exploration of the measurement, impact and strategy for affirmative action and workforce transformation in the South African financial sector. A mixed methods research design underpinned by the pragmatism paradigm and transformational leadership theory was employed. Qualitative interview data using a purposive sampling strategy (n=20) was analysed thematically. Quantitative survey data using random sampling selection (n=100) was factor analysed. These constructs were measured: AA measurement; AA perception; AA transformation; AA business impact; and AA strategic framework. Qualitative findings indicate that AA targets are being measured as per legislation, yet transformation is slow and hindered by barriers. Quantitative findings reveal that the AA strategy is significant and requires management commitment to represent all population groups in all jobs, provide regular communication on AA, transform previously disadvantaged youth and women, and create a diverse workforce that offers socioeconomic justice. The study adds to the body of knowledge on affirmative action, workforce transformation and socioeconomic justice. The 10-step AA strategic management framework emerged as a practical contribution of the study.