The Impact of Rewards on Job Satisfaction and Employee Retention

Terera, Sharon Ruvimbo; Ngirande, Hlanganipai

doi:10.5901/mjss.2014.v5n1p481

Cited by 104 publications

(90 citation statements)

References 9 publications

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“…Retaining a skilled workforce has become a major concern and challenge for many organisations, particularly within South Africa (Kerr-Phillips & Thomas, 2009;Muteswa & Ortlepp, 2011;Terera & Ngirande, 2014;Visser 2012). Organisations are moving away from traditional organisational reward practices in which salaries, bonuses and other concrete benefits are no longer being used as the only means for motivating and retaining their employees (Jacobs et al, 2014).…”

Section: Problem Statement and Research Questionsmentioning

confidence: 99%

The influence of organisational rewards on workplace trust and work engagement

Victor

Hoole

2017

SA j. hum. resour. manag.

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Orientation: In volatile and competitive business environments, organisations are faced with challenges to retain talented workers. Employees are increasingly leaving their jobs for a number of reasons, one of them being a perceived lack of adequate reward practices. Consequently, this has impacted on employee work engagement and confidence and trust in organisations.Research purpose: The study sought to determine whether there is a relationship between rewards, trust and engagement, as well as whether rewards are able to predict trust and engagement in the South African workplace.Motivation for the study: Organisations can no longer solely rely on extrinsic rewards to retain talent. Companies must draw on both extrinsic and intrinsic reward strategies to improve retention levels through endorsing higher levels of workplace trust and work engagement levels.Research design, approach and method: A quantitative, exploratory and cross-sectional research design was utilised. Non-probability sampling using questionnaires consisting of scales from the Job Satisfaction Survey, Intrinsic Motivation Inventory, Psychological Meaningfulness Scale, Basic Needs at Work Scale, Workplace Trust Survey and Utrecht Work Engagement Scale were administered to a sample (N = 251) of South African employees in various industries within the Gauteng region.Main findings: Results indicated that there is a moderate-to-strong positive relationship between the three constructs, and that rewards are able to predict trust and engagement.Practical and managerial implications: The findings provide insight for behavioural practitioners to potentially draw upon when improving talent management strategies. Both extrinsic and intrinsic rewards are important factors in keeping employees engaged and ultimately retaining them.Contribution: The study provided insight into the influence that organisational rewards may have on workplace trust, work engagement and retaining employees. Findings contribute towards improving talent management strategies.

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Section: Problem Statement and Research Questionsmentioning

confidence: 99%

The influence of organisational rewards on workplace trust and work engagement

Victor

Hoole

2017

SA j. hum. resour. manag.

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“…Owing to competition for scarce skills, the attraction and retention of quality employees has emerged as the biggest challenge in human capital management (Terera & Ngirande, 2014). Enhancing organisational commitment among employees is an essential element because that will result in higher employee commitment, enhancing retention, increasing their job satisfaction and improving performance (Omotayo, Pavithra, & Adenike, 2014).…”

Section: Total Rewards That Retain Talentmentioning

confidence: 99%

Total rewards and its effects on organisational commitment in higher education institutions

Mabaso

Dlamini

2018

SA j. hum. resour. manag.

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Orientation: Retaining staff with special endeavours within higher education institutions has become a top priority and crucial for any organisational productivity and competiveness. Attracting and retaining talent has remained a critical and complex issue for human capital management in organisations.Research purpose: The purpose of this study was to investigate the impact of total rewards on organisational commitment measured by Total Rewards Scale and Organisational Commitment Questionnaire.Motivation for the study: There is paucity in research on the impact of total rewards on organisational commitment. Commitment of academic staff is significant as higher education institutions are influential in the development of a country.Research design, approach and method: This study employed the quantitative research method using a survey design. A semi-structured questionnaire was used to collect survey data. A sample of 279 academic staff, which was the total population of participants, was selected for this study.Main findings: Results show a positive and significant correlation between elements of total rewards (performance management, 0.387; recognition, 0.335; talent development and career opportunities, 0.328; compensation, 0.231; benefits, 0.213; work–life balance, 0.024) and organisational commitment. A variance of 52.3% of total rewards explained organisational commitment. Performance management, compensation, benefits, recognition, talent development and career opportunities significantly predicted organisational commitment. However, work–life balance indicated a negative effect on organisational commitment.Practical managerial implications: Findings of the study has implications to managers because they have to encourage and promote total rewards in order to enforce talent retention within higher education institutions for the benefit of both institutions and employees.Contribution: The results are important to managers with great interest in talent retention and can be used as guideline to develop rewards strategy.

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“…It is especially important to mention that those kinds of material benefits are awarded when hiring employees in a particular company, and they not allocated based on the criteria of company performance or the performance of employees. This system generally aims to keep employees in the company, rather than to improve performance and success [13]. Indirect financial rewards are well suited to achieve the loyalty to the company.…”

Section: Financial Parameters Of Employee Loyaltymentioning

confidence: 99%

Employee loyalty: differences between genders and the public and the private sector

Klopotan

Buntak

Drožđek

2016

: Interdiscip. Descr. Complex Syst.

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This article presents the results of the research on important parameters of the loyalty of employees in the public and the private sector. The research was conducted in the Republic of Croatia as a part of the research focused on the essential parameters of the loyalty of employees that contribute to building and retaining loyal behaviour. Loyalty and employee satisfaction are the key parameters that influence the success of a company. In addition, loyal and satisfied employees are important in building good relationships with customers, suppliers and all stakeholders involved in business processes of an organization or a company. The purpose of this article is to define whether there is a difference in parameters of the loyalty of employees in the public and the private sector in Croatia, as well as whether there are certain differences based on gender.

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The Impact of Rewards on Job Satisfaction and Employee Retention

Abstract: This study explored the impact of rewards on job satisfaction and employee retention among nurses.

Cited by 104 publications

References 9 publications

The influence of organisational rewards on workplace trust and work engagement

The influence of organisational rewards on workplace trust and work engagement

Total rewards and its effects on organisational commitment in higher education institutions

Employee loyalty: differences between genders and the public and the private sector

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