The Impact of Financial and Non-financial Rewards on Attracting Chinese International Business Graduates in the UK to the Employment Market

The objective of this study is to examine the attraction of financial and non-financial rewards towards Chinese International Graduates in the UK to the Employment Market. In the context of the talent war, it tends to be critical for businesses and organisations to attract talents. Understanding potential employees’ reward preferences is a valid and efficient way to be the basis of attracting talents. The total reward models provide different reward mix that may attract candidates, being the fundamental theory of this research. Reward elements in the models are used to be the items examined by the researcher. Given the positivist philosophical perspectives, this study conducts a quantitative research. A questionnaire containing eight closed-questions is used as the tool of the survey, involving 132 participants. Both descriptive and inferential statistics are applied to analysis data. The results were founded as that Chinese international graduates are sensitive to the reward attractors. They value all reward elements in WorldatWork total reward model, especially the elements of performance and recognition and career development. However, when considering as a whole, they tend to emphasise financial rewards as the one more important. There are demographic differences between responders towards reward preferences. Responders who live in the UK for less than three years are more likely to prefer rewards related to career opportunities and development, while responders living three years and above rated them at lower level. Also, the differences of the length of studying abroad exist among responders towards preferring financial or non-financial rewards. To conclude, as Chinese overseas graduates consider rewards could attract them, financial rewards remaining constantly importance, was highlighted by them. The length of studying abroad plays a significant role in impacting reward preferences. Further, this research could provide some information about potential employees’ attitude towards rewards for organisations or HR departments. Some recommendations are deliver to them