Examining determinants of employee benefit preferences: Joint effects of personality, work values, and demographics

Lawton, Katie E.; Chernyshenko, Oleksandr S.

doi:10.1177/1038411108091759.

Cited by 9 publications

(13 citation statements)

References 15 publications

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“…This is in contrast with research by Cennamo and Gardner (2008), who discovered that extrinsic rewards such as pay and benefits are valued more highly by older employees than younger employees. Lawton and Chernyshenko (2008) concluded that young employees with simpler jobs value training and development opportunities more than their older peers, a finding that is also contrary to that of Hedge et al (2006). discovered that reward categories, such as remuneration and benefits, as well as a conducive working environment, are valued more by younger employees, reducing in need as employees age.…”

Section: Demographic Influences On Reward Preferencesmentioning

confidence: 42%

“…For example, Nienaber, Bussin and Henn (2011) found that reward preferences differ according to a number of demographic factors, such as number of children, race, age, job level, educational qualifications, marital status, years of service, as well as gender. In terms of job level and type, Lawton and Chernyshenko (2008) found that full-time employees with dependants prefer family-supportive rewards, such as medical and life insurance, and that lower level employees feel that additional education and training would increase their chances for career advancement. Employees in lower level jobs, such as administrative and junior management levels, have also been observed to hold significantly higher preferences for remuneration and benefits when compared to senior and executive management .…”

Section: Demographic Influences On Reward Preferencesmentioning

confidence: 99%

“…Peoples' needs and preferences change over time (Gross & Friedman, 2004) and there are many factors that can affect employees' reward preferences, including age, values, religion, marital status, number of dependents and culture (Meyer & Kirsten, 2012). Rewards packages that fit well with such characteristics and preferences of employees can result in increased motivation and, ultimately, improved performance (Lawton & Chernyshenko, 2008). For example, flexible benefits and rewards packages allow employees to tailor their packages to suit their personal motivations, work and leisure interests, career stage and domestic circumstances (Armstrong & Brown, 2009).…”

Section: Research Purposementioning

confidence: 99%

“…Based on the above, it is suggested that if employers have an understanding of the demographic characteristics of employees, they will be able to design rewards packages such as personal benefit schemes that will create unique value for their employees and ultimately lead to a competitive advantage in the labour market (Lawton & Chernyshenko, 2008).…”

Section: Demographic Influences On Reward Preferencesmentioning

confidence: 99%

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An empirical study of the reward preferences of South African employees

Snelgar

Renard

Venter

2013

SA j. hum. resour. manag.

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Orientation: Adapting traditional reward systems to focus on employee preferences has become a necessity as companies strive to attract, motivate and retain a skilled and high performing workforce.Research purpose: The aim of the study was to identify certain categories of rewards that employees consider to be most important, including base pay, contingency pay, benefits, performance and career management, quality work environment, and work-home integration. The impact of these reward categories on an organisation's ability to attract, motivate and retain employees was explored, together with the influence of demographic variables on reward preferences.Motivation for the study: There is much debate over whether reward packages should be tailor-made to suit individual employees. It has been argued that a 'one-size-fits-all' approach with regard to rewards is no longer effective.Research design, approach and method: A structured questionnaire, based on the total rewards model, was used to achieve the objectives of the study. A sample of 250 employees from 11 medium-sized to large-sized organisations participated in the study. Main findings:The results showed that base pay is deemed to be the most preferred reward component amongst respondents; however, they are most dissatisfied with the level at which this reward is provided by their current employers. Base pay is also the most important reward when attracting and retaining employees. Differences between reward preferences and demographic variables, including age, gender and job level, were found. Practical/managerial implications:Organisations should design their reward systems according to the preferences of their employees by focusing on base pay and contingency or variable pay. These rewards will also serve to retain them; although, to motivate employees, non-cash awards and recognition should be emphasised. Contribution/value-add:This study contributes to literature on reward preferences, which is lacking in a South African context. It also provides support for segmentation of rewards based on certain demographic variables.

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Section: Demographic Influences On Reward Preferencesmentioning

confidence: 42%

Section: Demographic Influences On Reward Preferencesmentioning

confidence: 99%

Section: Research Purposementioning

confidence: 99%

Section: Demographic Influences On Reward Preferencesmentioning

confidence: 99%

See 2 more Smart Citations

An empirical study of the reward preferences of South African employees

Snelgar

Renard

Venter

2013

SA j. hum. resour. manag.

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mentioning

confidence: 99%

Effects of performance-based financial incentives on work performance: A study of technical-level employees in the private sector in Sri Lanka

Wickramasinghe

Dabere

2012

Perf. Improvement Qrtly

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O rganizations off er attractive fi nancial incentive packages to attract and retain people with high-quality skills and thereby stay competitive (Hutson, 2000;Lawton & Chernyshenko, 2008). e literature also suggests the possibility of maintaining more than one incentive package within a single organization in order to meet needs and desires of diff erent employee groups (Lawler, 1990). is article presents results of a study that investigated the eff ects of design features of performance-based fi nancial incentives on work performance of technical-level employees attached full-time to diverse organizations belonging to the private service sector in Sri Lanka.Although it is expected that fi nancial incentives increase individual eff ort and thereby produce "incentivized" behavior, previous research conducted in both controlled laboratory studies and fi eld studies provides inconclusive results. For instance, some studies provide evidence that fi nancial incentives increase individual eff ort and thereby produce incentivized behavior (Bonner & Sprinkle, 2002;Stone, Bryant, & Wier, 2010), while other studies provide evidence that fi nancial incentives fail to produce desired behavior (Wolf & Zwick, 2008) and create negative organizational outcomes such as decreased trust and cooperation (Stone et al., 2010). e current study attempted to explain whether performance-based fi nancial incentives could have an infl uence on work performance of technical-levelThe objective of the study is to investigate the e ect of performancebased nancial incentives on work performance. The study hypothesized that the design features of performancebased nancial incentive schemes themselves may in uence individuals' work performance. For the study, survey methodology was used and 93 technical-level employees who were subjected to a performance-based incentive scheme for at least 2 years in their rms responded. Regression analysis was used for data analysis. It was found that the design features of performance-based nancial incentives schemes explain 51% of the variance in work performance. Six of the incentive scheme factors, including the goals of incentive scheme, employee participation in setting goals, incentive scheme type, and payout frequency, have signi cant positive impact on work performance. Overall, the ndings suggest that well-designed and carefully implemented incentive schemes have signi cant positive impact on work performance.

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Exploring Evidence of Validity for the Construct of Work Values

Leuty¹,

Hansen²

2011

PsycEXTRA Dataset

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Dedication My father's pride, unending support, and sage advice has helped motivate me to succeed throughout my life. Never demanding of high achievements, he only required that I do my best. He shared in my excitement to pursue a doctoral degree despite his disappointment that I chose to attend a school far from home. Unfortunately he wasn't able to witness the completion of my degree. I dedicate this dissertation to him. May peace be with you.

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Examining determinants of employee benefit preferences: Joint effects of personality, work values, and demographics

Cited by 9 publications

References 15 publications

An empirical study of the reward preferences of South African employees

An empirical study of the reward preferences of South African employees

Effects of performance-based financial incentives on work performance: A study of technical-level employees in the private sector in Sri Lanka

Exploring Evidence of Validity for the Construct of Work Values

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