In a time of persistent and fierce “war for talents,” which is naturally inherent to the knowledge-intensive industries, the issue of employees’ job satisfaction is of the utmost managerial significance. In that respect, this study explores certain intrinsic factors that underlie the job satisfaction concept, as well as the durability of employees’ job satisfaction. Based on the extant literature, a theoretical model of job satisfaction was designed, which was subsequently tested using the data gathered through the surveys conducted over the ten years. The results obtained by model testing show that employees’ job expectations make up that particular intrinsic factor that differentiates job satisfaction from non-satisfaction. More intriguingly, the results showed that prior job satisfaction is not a reliable predictor of later job satisfaction.
As the IT industry mature, its impact on the economy and society becomes progressively larger and more profound. The processes and concepts like digital transformation, cybersecurity, artificial intelligence, to mention but a few, have paved the way for growth and advancement in all facets of modern society and, particularly, in the realm of business. This immense progress, however, poses many challenges for both business and society. Aside from the growing ethical and legal issues related to privacy, security, and confidentiality, present-day IT companies are also facing numerous technological and managerial challenges – emerging technologies adoption, creating a new market or existing market growth, the introduction of innovative business model, and alike. Wise decision-making concerning these and similar issues is critical for their business success and, in some cases, even their mere existence.
4.2. Practical implications
There are but few managers who do not know about Herzberg’s two-factor theory suggestions and directions. Namely, the extrinsic rewards (financial and material rewards and incentives) will not motivate the employees in the long-run. To create and keep really motivated and satisfied employees, managers must provide them with proper intrinsic rewards – challenging, stimulating, and interesting work, as well as an opportunity for personal growth (Herzberg, 2003). The obtained research results directly support such an assertion, which is particularly important considering the research context’s specificity – quite unstable and immature market conditions of BiH. The study outcomes confirm that HR managers may (and should) rely on the best practices and insights abouttalent managementfrom highly developed business environments, regardless of the economic conditions under which their organizations operate. Specifically, to attract and retain the most wanted talents, HR departments and managers, in general, have to ensure that employees’ job expectations are continuously fulfilled, thus providing the necessary intrinsic rewards that would lead to higher levels of job satisfaction and, likely, lower attrition.