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The relationships between the variables were considered by looking at the results of the correlations. According to Nienaber (2012) total rewards is an important part of the EVP and Bremen and Sejen (2012) suggest that it is comprised of both intrinsic and extrinsic rewards. Literature further suggests

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that intrinsic rewards have shown to be drivers of engagement. (Stumpf, et al., 2013; Thomas, 2009; Hill & Tande, 2006).

The drivers of work engagement have been discussed as job resources and personal resources which in combination or independently result in higher engagement, leading to more vigour, dedication and absorption (Bakker, et al.

2008).These resources play an intrinsic motivational role or an extrinsic motivational role. When job resources are contributing to employee’s learning and growth it plays an intrinsic motivational role. Furthermore Bakker and Demerouti (2008) state that when job resources are enabling employees in achieving work goals, it plays an extrinsic motivational role. Literature further suggests that EVP has a possible correlation with engagement (Hager, 2007;

Punia & Gacheru, 2013; CPA Practice Management Forum, 2014).

The study provided evidence to support a statistically significant relationship between EVP and work engagement. It suggests that statistically significant relationships exist between career opportunity (attraction) and vigour;

organisation (attraction) and vigour and dedication; and work (attraction) and vigour and dedication, as shown in table 4.12. It was further found that that the EVP attraction subscales of organisation and work have a statistically significant correlation with the overall level of work engagement.

There is a statistically significant correlation between career opportunity (retention) and vigour and dedication; work (retention) and vigour; organisation (retention) and dedication; as well as people (retention) and both vigour and dedication, as shown in table 4.13. It was found that career opportunity and people have a statistically significant correlation with the overall level of work engagement.

To conclude it is evident from the above discussion that there is a statistically significant relationship between work engagement and EVP attraction in terms of vigour and career opportunity, work, organisation and people. There is statistically significant relationship between work engagement and EVP retention in terms of dedication, organisation, work and people. It was found

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that the work engagement subscale, absorption, has no correlation with EVP or any of its factors. Furthermore there is no evidence to suggest a statistically or practically significant relationship between the EVP subscale rewards and any of the work engagement subscales, suggesting that rewards have no relationship with levels of work engagement. Reward is an extrinsic component of EVP. There is no evidence to suggest a statistically or practically significant relationship between the EVP attraction subscale career opportunity and total level of work engagement. It is therefore suggested that career opportunity has no relationship with the levels of work engagement in attracting employees to the company. However, findings reported in table 4.13 suggest that when retaining employees to the company career opportunity has a statistically significant relationship with work engagement. Career opportunity is an extrinsic component of EVP.

Evidence reported in table 4.12 suggests a statistically significant relationship between the intrinsic EVP attraction subscales work and organisation and the levels of work engagement, however, findings reported in table 4.13 suggests that there is no statistically or practically significant relationship between work and organisation as EVP retention subscales. This suggests that work and organisation which are both intrinsic components of EVP have a statistically significant relationship with work engagement when attracting employees to the company but it has no relationship with work engagement when retaining employees to the company.

Evidence reported in table 4.12 suggests no statistically or practically significant relationship between the intrinsic EVP attraction subscale people and the levels of work engagement, however, findings reported in table 4.13 suggests that there is a statistically significant relationship between people as EVP retention subscale. This suggests that people, as an intrinsic component of EVP have a statistically significant relationship with work engagement when retaining employees to the company but it has no relationship with work engagement when attracting employees to the company.

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There is no relationship between overall EVP (attraction) and work engagement. However, when looking at overall EVP (retention) there is a statistically significant relationship between EVP and work engagement.

This suggests a statistically significant relationship between work engagement and EVP in terms of retention.

To conclude there is no evidence to suggest a practically significant relationship between any of the EVP components and work engagement;

however a statistically significant relationship is suggested between vigour and dedication and organisation, people, work and career opportunity. Hypothesis H1 is therefore partially accepted.

In terms of the literature suggesting that intrinsic rewards drive engagement, the study has found that the highest ranked attribute for both attracting and retaining respondents to the company is ‘the competitiveness of the job’s financial compensation package’, as reported in Annexure D. This attribute falls under the EVP subscale of rewards and is an extrinsic, financial reward.

As discussed above there is no significance between rewards and any of the engagement subscales. Even though respondents ranked ‘the competitiveness of the job’s financial compensation package’ as the most important in attracting and retaining them to the company, there is no evidence to suggest that rewards contribute to their levels of work engagement. This supports earlier findings by Scott, McMullen, Royal and Stark (2010) that base pay and benefits had the weakest relationship with levels of work engagement.

The second most important attribute for both attraction and retention was reported as ‘the future career opportunities provided by the organisation’, as shown in Annexure D. This attribute relates to the EVP subscale of career opportunity, an extrinsic reward. This was followed by ‘the level of stability of the organisation and the job’ being ranked equal to ‘the comprehensiveness of the organisation’s retirement benefits’ as the third most important EVP attribute in attracting respondents. These attributes fall within the EVP subscales of career opportunity, an extrinsic component, and rewards, an extrinsic component.

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It was evident in Annexure D that respondents ranked ‘the level of stability of the organisation and the job’ as the third most important EVP attribute in retaining employees to the company. Respondents viewed the extrinsic attributes as more important in attracting and retaining them to the company.

Even though respondents have ranked attributes relating to the extrinsic components of EVP as most important in attracting and retaining them to the company, evidence suggested that rewards do not contribute to their levels of work engagement. Hypothesis H2 is therefore partially accepted as there is no practical significance between the intrinsic components (organisation, work and people) of EVP and engagement but also no statistical significance between rewards as an extrinsic component of EVP and engagement.