Attracting and retaining talent: identifying employee value proposition (EVP) drivers of attraction and retention in the South African labour market

摘要

Rapid changes in the business environment as a result of globalisation, mergers and acquisitions, skills shortages and demographic changes in the workplace have led to a greater realisation of the importance of talent management and its role in ensuring a sustainable and successful organisation. Attracting and retaining talent has become one of the most important activities for organisations in order to ensure their competitive advantage. Companies must now differentiate themselves from competitors by offering current and potential employees an employment offering that they value. The employee value proposition (EVP) communicates to the internal and external workforce why they should work for and remain with a particular organisation. Identifying the attributes that employees' value is important in attracting and retaining the best talent. The aim of the study was therefore to identify the EVP drivers that a) attract and b) retain employees as well as those attributes that drive both attraction and retention. The influence of demographic variables, such as age and gender, on attracting and retaining employees was also explored. A structured questionnaire, based on the Corporate Leadership Council‟s EVP model, was developed and respondents were asked to indicate the importance they attach to each EVP attribute. A total of 204 respondents from 13 medium-sized to large-sized organisations in South Africa, participated in the study. The results showed that the quality of senior leadership, quality of managers and the organisation's reputation for managing people were the most important EVP drivers of both attraction and retention. The size of the organisation's workforce was the least important attribute for both attraction and retention. In addition, the results revealed there were no significant differences between EVP attributes that attract and retain males and those that attract and retain females. Furthermore, age plays a significant role in attracting and retaining talent. These results have significant implications for companies as they should design their EVP‟s based on what employees' value and deem to be the most important to them. Organisations need to start focusing on the generational differences that are present in today's business and adapt their EVP‟s accordingly.