Attraction and Retention of the Employees. A Study based on Multinationals from Romania

Abstract

Total reward is a process of human resource management rarely encountered in Romanian entrepreneurial practices. Businesses that are using this concept are often organized in joint-stocks companies with foreign capital. There are also situations where smaller companies provide their employees organizational rewards, applying the idea of total rewards. However, in these cases, business executives, usually make use of this concept in an unrealistic manner. If in Romanian companies total reward, is not even a basic concept, in multinational companies this is a “must have”. It's the only way to survive on the market. Why? Multinationals usually provide outsourcing activities which must be cheaper in terms of costs compared to the original country of activity.

While attraction of human resources represents the stage that starts with one or more job postings and it ends with new engagements for the organization, retention is “an effort made by the employer to keep employees willing to achieve organizational goals” (Akhtar et al., 2015 in Frank et al., 2004, p. 13).

The purpose of this research it is to discover the typologies of organizational rewards that attract and those which maintain human resources in outsourcing multinationals. This study has focused on two key steps taken from human resource management: attracting candidates to job interviews and maintaining the chosen personnel in companies. The research model was designed so that the two aspects are simultaneously and comparatively analyzed.