The job market is increasingly growing, because each day there are new graduates as well as employees who are seeking greener pastures outside their current organizations. Every organization aims for the most qualified employees in the job market, therefore they all have to remain as competitive as possible so as to have an edge over other organizations.
According to (Zweig, 1991), pay is a motivator, and if properly used, it can be very effective. According to the current job market trends, we can note that companies that offer good incentives tend to attract qualified employees, because pay is considered a primary factor.
However, studies show that as much as pay to job applicants is a factor, it is not a primary one. A survey by (Zweig, 1991). on more than 50,000 applicants revealed that pay is not a primary drive to applicants. When it comes to job attributes that are most important to applicants, Pay ranked seventh to women, and to men, it ranked fifth. Type of work, Job security, advancement and company among others ranked more important than pay. This is further insisted by Herzberg’s two factor theory that doesn’t categorize pay as a motivator, but a hygiene factor.
Zweig, W. (1991). Human Resource Management: the complete guidebook for design firms. New York: Wiley