The relationship between personality types and reward preferences

Abstract: Research has shown that total rewards models structured according to individual preferences, positively influence efforts to attract, retain and motivate key employees. Yet, this is seldom done. Structuring total rewards models according to the preferences of employee segments is a viable alternative to accommodate individual preferences. Research purpose: The primary aim of the study was to determine the relationship between personality types and reward preferences. The secondary aim was to determine the reward preferences for different demographic groups. Motivation for the study: An enhanced understanding of reward preferences for different employee segments will enable employers to offer more competitive reward options to their employees. This may, in turn, have a positive impact on retention. Research design, approach and method: Two measuring instruments, the MBTI® Form GRV and the Rewards Preferences Questionnaire, were distributed electronically to 5 000 potential respondents. The results from 589 sets of questionnaires were used in the data analyses. Primary and secondary factor analyses were done on the items in the Rewards Preferences Questionnaire. Main findings/results: The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework influenced by the most prominent preferences for reward categories, was designed..

The relationship between personality types and reward preferences

Abstract: Research has shown that total rewards models structured according to individual preferences, positively influence efforts to attract, retain and motivate key employees. Yet, this is seldom done. Structuring total rewards models according to the preferences of employee segments is a viable alternative to accommodate individual preferences. Research purpose: The primary aim of the study was to determine the relationship between personality types and reward preferences. The secondary aim was to determine the reward preferences for different demographic groups. Motivation for the study: An enhanced understanding of reward preferences for different employee segments will enable employers to offer more competitive reward options to their employees. This may, in turn, have a positive impact on retention. Research design, approach and method: Two measuring instruments, the MBTI® Form GRV and the Rewards Preferences Questionnaire, were distributed electronically to 5 000 potential respondents. The results from 589 sets of questionnaires were used in the data analyses. Primary and secondary factor analyses were done on the items in the Rewards Preferences Questionnaire. Main findings/results: The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework influenced by the most prominent preferences for reward categories, was designed..

Examining Employees’ Reward Preference and Its Association with Motivation to Work: A Case of Ethio-Telecom (Adama Branch)

Today most of the organizations would like to observe their employees feel motivated and ready to work hard, but they do not understand what truly motivates their employees at the work place. Reward is one of the motivational factors that help management to motivate and retain experienced workforce in an organization. But, there is a controversy among scholars concerned reward type that employees prefer to be motivated for their work. Therefore, the purpose of this study is to examine employees’ reward preference in relation with motivation-A case of Ethio-Telecom (Adama branch). This study used descriptive research design with quantitative analysis and the study also used simple random sampling technique to draw a sample of 110 respondents from target population of 150 and the response rate of the study was more than 78%. 5 points Likert scale questionnaire was used to collect primary data from the respondents. Cronbach’s alpha test was run to measure the internal consistency and the reliability of the questionnaire. This study used only primary data & the data analysis was done with the aid of statistical package for social science (SPSS) version 16.0. In order to test the strength of the relationship & variance between each predictor the analysis was subjected to T-test and Chi-square test. The findings of the study show that absence of statistically significant difference among employees’ reward preference based on their demographic characteristics except their age. Therefore, this study recommends that the management should provide both monetary and non-monetary rewards for its employees in order to motivate them for better performance. Finally, the study suggests that similar studies at others public institutions with a larger sample size should be undertaken & seems appropriate to generalize this study. Keywords: Non-monetary rewards, Monetary rewards and Motivation. DOI: 10.7176/EJBM/12-13-02 Publication date:May 31st 202

Why Effective Leadership is Paramount in Organisations

This is a desk study premised on the author’s experience as a leader in an education institutional. It was set out with the objective of understanding the role of leaders and what constitutes effective leaders through a Meta-content analysis reviewing various literatures by several researchers on the concept of leadership. The paper finally discussed concepts of leadership in practice, leadership and training and also provided detailed information on how organisations source effective leaders Keywords: effective leadership, organisational goals, recruitment, leader

ANALYSIS OF REWARD PRACTICES AND THEIR INFLUENCE ON EMPLOYEE ENGAGEMENT AMONG SOFTWARE DEVELOPMENT FIRMS IN PAKISTAN

The current study is based on investigation of current reward practices of the software development firms in Pakistan, employee’s preference for different type of reward offered, and influence of reward practices on employee’s work engagement. The design of the study is cross-sectional and explanatory, and it is based on quantitative approach and survey method. Primary data is collected from staff of 10 selected software development firms located in the city of Islamabad (n=160). Our results indicate that in monetary reward category, employees prefer reward such as enough payments, overtime payments, and transportation allowances which are not adequately provided by the employers. Similarly, in non-monetary reward category, employees prefer reward such as social security, and appreciation and recognition which are not adequately addressed by the employers. Furthermore, results indicate that both monetary reward as well as non-monetary reward has positive and significant effects on employee engagement. Both type of reward explains 66.9% change in the employee engagement level. Our results imply that software development firms in Pakistan should review their reward practices and give attention to both type of reward

Influence of job satisfaction, social support system and work-life balance on Malaysian women engineers’ professional commitment

A limited number of studies have explored the factors related to professional commitment of women engineers in the Malaysian context. The decreasing presence of female representation in the engineering sector in Malaysia could contribute to a significant brain drain and impairs growth of Malaysia’s economy. This study investigated the influence of job satisfaction, social support system and work-life balance on the professional commitment of Malaysian women engineers. Data were gathered from women engineers across Klang Valley in the form of survey questionnaires. Through this cross-sectional study, relationship and influence of these human resource factors to the professional commitment of Malaysian women engineers were determined. This study implied that there exist moderate level of jobs satisfaction, social support, work-life balance and professional commitment amongst Malaysian women engineers. Jobs satisfaction and work-life balance has been found to have moderate relationship with their professional commitment. Furthermore, job satisfaction emerged as the biggest factor that influences professional commitment amongst Malaysian women engineers. Results from this study could help organizations and policy makers in implementing strategies that can strengthens professional commitment of women engineers and in return increases their intention to stay in their profession

The impact of a total reward system of work engagement

Orientation: Work engagement is critical for both employees and employers. With the reported downward spiral of engagement levels worldwide, organisations are recognising that in order to address this, attract best talent and keep employees motivated, they need to shift their attention to total reward strategies. Research purpose: The overall purpose of this study was to explore the relationship between total rewards and work engagement in a South African context and to determine which reward categories predict work engagement. The study further endeavoured to determine whether gender and age had a moderating effect on the relationship between total rewards and engagement. Motivation for the study: Statistics report that less than 30% of all working people are optimally engaged in their work. Considering that individuals spend more than a third of their lives at work committing themselves emotionally, physically and psychologically – research indicates that employees are no longer satisfied with traditional reward systems and want to feel valued and appreciated. Research approach, design and method: In this quantitative, cross-sectional research design using a non-probability convenience and purposive sampling strategy, 318 questionnaires were collected and analysed from financial institutions in Gauteng in which opinions were sought on the importance of different types of rewards structures and preferences, and how engaged they are in their workplace. The 17-item UWES and Nienaber total reward preference model were the chosen measuring instruments. Main findings: A small statistically significant correlation (r = 0.25; p < 0.05; small effect) was found between total rewards and work engagement, and 12% of the variance of work engagement was explained. Only performance and career management significantly predicted work engagement. Practical/Managerial implications: Although small, the significant correlation between total rewards and work engagement implies that total rewards are important motivators for employees in the workplace. Of the total rewards scales tested, only performance and career management significantly predicted work engagement, suggesting that more research is needed. Organisations seeking to implement total reward strategies should pay specific attention to which strategies have an impact on work engagement. Contribution/Value-add: Organisations must take cognisance that factors such as performance and career management significantly predicted work engagement and should be considered as part of their total reward offerings

Reward preferences for generations in selected information and communication technology companies

Abstract: Previous research suggests that different generations have different reward preferences based on differences in values, frames of reference and life goals. Research purpose: The focus of this study was to determine whether different generations prefer different rewards in the Information and Communication Technology (ICT) industry in South Africa. Motivation for the study: The rationale for this study was to obtain a better understanding of the reward preferences of Veterans, Baby Boomers, Generation X and Generation Y in the ICT industry. Research design, approach and method: The research was a quantitative, cross-sectional, correlational design. Participants from two ICT companies completed a structured electronic survey. One hundred and sixty four valid responses were received. A Cronbach’s alpha of 0.821 indicates that the survey was reliable. Main findings: Contrary to previous research, the results show that generations do not display different reward preferences. Practical/managerial implications: It would be more beneficial to use individual interrelationship factors to develop a reward strategy than generations. Contribution/value-add: The research has added insight and value to reward preferences for generations in the ICT sector

Total rewards strategy for a multi-generational workforce in a financial institution

Abstract: Different generations may value and perceive employee rewards differently. This impacts on reward strategies in the workplace which have been specifically developed to attract, retain and motivate staff. A one-size-fits-all approach to reward strategy may not achieve the objectives intended, leading to direct and indirect financial implications for businesses. Research purpose: This study investigated whether perceptions of reward strategy differed across generations in a large financial institution in South Africa. This context was specifically chosen due to the significant competition to attract and retain staff that exists in the financial sector. To contribute to the practical challenges of reward implementation, the study investigated whether specific reward preferences associated with generation exist, and whether offering rewards based on these preferences would successfully attract and retain staff. Motivation for study: South African businesses are competing for skilled staff and rely heavily on a total reward strategy to compensate all generations of employees. Given the financial incentives to retain and attract the most effective staff, it is essential that reward strategies meet their objectives. All factors impacting the efficacy of reward strategies should be considered, including the impact of generational differences in preference. This is of relevance not only to the financial industry, but to all companies that employ staff across a variety of generations. Research design, approach and method: A quantitative survey design was used. A total of 6316 employees from a financial firm completed a survey investigating their experiences and perceptions of reward strategies. Statistically significant differences across different generations and reward preferences were considered..

Reward preferences in South Africa’s media industry

ORIENTATION : Employee remuneration is a key driver of employee engagement and thus organisational performance. A thorough understanding of employee needs is essential to enable management to develop an equitable mix in reward strategy. RESEARCH PURPOSE : The purpose of this study was to examine context-specific reward preferences in order to determine the overall reward preferences of employees in the media industry with the aim of improving existing reward strategies. MOTIVATION FOR THE STUDY : The focus on reward preferences has emerged as a critical element in identifying what really motivates productive behaviour within the workplace. A better understanding of reward preferences is required to find ways to improve performance within the world of work. RESEARCH APPROACH/DESIGN AND METHOD : The research was a quantitative, empirical and descriptive study of reward preferences in an industry-specific context. A self-administered survey was used as a measure and analysed using non-parametric tests to identify variances between dependent and independent groups, testing for internal consistency and nonparametric analysis of variance (ANOVA). MAIN FINDINGS : The following five reward preferences were rated as most important by participants: base pay or salary, merit increase that is linked to personal performance, incentives and bonus, safety and security at the workplace, and market-related salary. The results indicated that monthly salary (base pay) is the most preferred and/or significant reward category in attracting, retaining and motivating employees. PRACTICAL/MANAGERIAL IMPLICATIONS : Managers in South Africa’s media industry should investigate their organisations’ rewards through the perspective of the total rewards concept to assess and develop an equitable mix in reward strategy. A comprehensive analysis of reward preferences is required to ensure that all aspects that promote the attraction, retention and motivation of employees are taken into consideration. The importance of base pay should not be under-estimated as it represents the most significant reward preference for employees in the South African media industry. CONTRIBUTION/VALUE-ADD : This study adds to the body of social science research, providing a deeper understanding of reward preferences, specifically in the context-specific setting.http://www.sajhrm.co.zaam2019Gordon Institute of Business Science (GIBS