Attribute Prioritization in Discrete Choice Experiment: Challenges and Suggested Approach in a study on Malaysian Islamic Finance Talent Job Choice
Abstract
There has been an increase use of Discrete Choice Experiment (DCE) by researchers in the field of Human resources management. DCE is a quantitative technique that quantifies values placed on non-market goods, services or policies through the analysis of choices made among a combination of attribute and attribute levels presented in hypothetical experiment questionnaires. Attributes are cogent in DCE studies; hence, the first step in DCE studies is the selection and prioritisation of attributes. There are calls for caution in this stage to ensure valid research outcomes, however, scanty attention has been given to this important stage. Even though researchers have adopted qualitative techniques in the prioritisation of attributes for DCE, these are fraught with weaknesses. Issues such as subjective bias of the researcher and lack of statistically efficient outcomes because of small sample use, have been reported. More so, contextual issues such as nationality and other differences in survey population has necessitated a need to employ a more rigorous approach in prioritisation of attribute in DCE. It is against this background that this study introduced relative importance index (RII) in graduate talents’ preference for job and organisation attributes in the Malaysian Islamic finance industry. Stratified sample was employed with the administration of 5point Likert scale questionnaire to investigate respondents’ preferences among 12 selected job and organisation attributes. The result of this study showed that all selected attributes had RII>0.5 and could all be added in the experimental design. This study could help researchers in mitigating identified challenges in qualitative methods.
Keywords: Attribute prioritisation, Discrete Choice Experiment, Relative Importance Index, Talent job choice.
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