Total rewards as a psychosocial factor influencing talent retention

Abstract

The retention of people who possess talent and are highly qualified is a major concern for contemporary organisations who are operating in a competitive environment (Neininger et al. J Vocat Behav 76:567-579, 2010). Remaining in a competitive environment entails special endeavours to retain talent for the long-standing strength of an organisation. The retention of skilled workers can be a vital edge or advantage for any organisation (Mullins Management and organisational behaviour, Prentice Hall, London, 2005; Ngozwana and Rugimbana Afr J Bus Manag 5:1524-1527, 2010; Armstrong 2015). Ultimately, retention of talent has an important part in maintaining the overall organisational performance. Most organisations realise the importance of embracing total rewards as the best strategy to retain key talent. Therefore, this chapter will focus on total rewards as a means for retention-related dispositions that will ensure valuable employees remain in the organisation. Exploring total rewards as psychosocial factors that influence talent’s choice to join, remain and leave an organisation has become crucial in the light of changes in organisations. The study employed semi-structured questionnaire using 262 participants to unearth the influence of total rewards on talent retention.