Strategic Total Rewards accross Generations during Pandemic

This study explored the influence of the Fourth Industrial Revolution (4IR) on total rewards within the pharmaceutical industry, specifically focusing on Middle and Senior Managers as the sample. The study explored the total rewards that the sample found valuable based on their gender and generational cohort, ie, Baby Boomers, Gen X and Millennials. A qualitative research approach utilised for the current study uses phenomenology to explore employees' lived experiences in the pharmaceutical industry. Data was gathered by conducting semi-structured interviews, with open-ended questions, to gain insight into specific topics, such as 4IR, COVID-19, total reward preferences, age and gender. The research findings indicated that 4IR and Covid-19 influenced pharmaceutical industry employees’ total rewards preferences. The findings also indicated that total rewards preferences are dependent on an employee's age, gender and life roles. An interesting finding was that regardless of age and gender, all employees valued the total reward of well-being above all others, but this reward was the most difficult to attain from their employer. The findings from the study may enable companies to become employers of choice.