The influence of rewards on talent attraction and retention at a further education and training college in Gauteng
The purpose of this study is to investigate the influence of employee rewards on talent attraction and talent retention. Furthermore, the study intends to unearth the influence of rewards on employee attraction and retention and to suggest strategies that could be employed by FET colleges in Gauteng in the Sedibeng district of Gauteng. The attraction and retention of employees continues to be a key priority not only of human resource professionals but also of FET colleges generally in South Africa and in the Gauteng province in particular. The most valuable asset available to an organisation is its people, and consequently, retaining employees in their jobs is crucial for any organization. In South Africa, the retention of highly skilled employees is critical, particularly because of the need to contribute to economic growth, innovation and poverty eradication. Owing to the competition for scarce skills, the attraction and retention of quality employees has emerged as the biggest challenge in human capital management and this phenomenon has also arisen in FET colleges. To attract and retain employee, organisations need novel reward systems that satisfy employees. This study employs a quantitative research paradigm and a survey method was used to investigate a sample of 154 academic employees at Sedibeng FET College, Gauteng. A personal method was used to collect data using semi-structured questionnaire and the results of the correlations shows that employee rewards are significantly positively related to talent attraction and talent retention. Findings and recommendations of this study are important to employers as they are supposed to design a remuneration package that attract and retain the best candidates and satisfies their employee’s expectations, in that it is fair, equitable and free of bias. A remuneration package is one of the most important factors that influence people to take up employment and stay with the organization.
M. Tech. (Business Administration, Faculty of Management Sciences): Vaal University of Technology
Employee rewards, Talent attraction, Employee retention, Scarce skills, Remuneration