Context: With organisations' competitive advantage residing fully on the distinctive knowledge experience of their most talented and skilled employees and the need for robust talent pipe lines. Given that millennials have a majority representation in the workforce today, it is important to identify, manage and provide what they are looking for in terms of an employer - employee relationship to better attract, motivate engage and retain them.
To provide a deeper understanding of how to attract, retain, manage and engage the millennial generation in the management consulting industry within South Africa, based on reward preferences.
Research design approach and methodology
The research followed a quantitative research method through the self-administration of a questionnaire by 65 millennials within numerous management consulting firms based in South Africa. Data comparisons were conducted on independent variables and dependant variables. Variance of this data was conducted using SPSS.
The results from this study show that millennial-aged South Africans place most importance on the fixed pay, opportunity to earn incentives related to individual performance, work-life integration and flexible working arrangements as well as fair and transparent performance management processes. These reward components are extrapolated and described according to rank when considering an employer, remaining at an existing employer and being motivated and engaged (scenarios). In addition there are other important factors that the study found specific to each of the scenarios.
Mini Dissertation (MBA)--University of Pretoria, 2017.