Electronic Theses and Dissertations (Masters/MBA)

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Author: search.filters.author.Dharmaratne, NewayneSubject: search.filters.subject.Psychological contracts

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    Talent retention in South African SMEs in the digital era
    (University of the Witwatersrand, Johannesburg, 2022) Dharmaratne, Newayne; Murimbika, McEdward
    This quantitative study investigated the relationship between the influential factors of employees (talent) and their intent to stay. It achieved this by exploring the current approaches and dynamic retention models that Small Enterprises (SMEs) employ and tested the alignment between what SMEs provide and what talent prefer. The study also aimed to test if retention approaches have a mediating effect on intent to stay and if established influential factors that lead to job embeddedness are still relevant in post-pandemic South Africa. Digital transformation has become imperative for SMEs to broaden their efficiency at a lower cost and expand their footprint in the market as a result of the shift in consumer behaviour. To this effect, the importance of SMEs' contribution to the economy and their ability to navigate the need for talent amid skills gaps and shortages, locally and globally, accentuates the need for this kind of study in South Africa. The study found that only 34% of the SMEs in the sample have moderate to significant focus and investment in digital transformation. Whilst 96% of digital talent prefer staying in a company with significant to moderate focus and investment in transforming. Emphasizing the important role that digital transformation plays in retaining talent. 84% of the digital talent highlighted that they prefer full-time employment over contract work. Alluding to the current level of readiness for the concept of the gig economy in the South African talent market. The study also revealed that only 17% of the SMEs currently utilise democratized learning and development as a retention approach and only 38% of the SMEs currently employ remuneration programs to align salaries to market and effective leadership. This poses a risk to SMEs to retain talent as the research shows that digital talent is currently looking for market-related salaries, remote working and effective leadership as the main approaches that SMEs can offer to ensure they stay in a post-pandemic landscape