Sr Electric Company R & D Staff Retention Strategies

The author of this paper selects R&D staff of SR electric company as her subjects. Based on current phenomenon of vanishing employees and the latest development of employee retention, she puts forth some suggestions for establishing and implementing R&D staff retention strategies after she looks into and analyses the problem of R&D staff turnover in SR electric company.SR electric company, a stated-owned military-industrial company shouldering unique missions, seeks to boost its development by abiding by the market law. Although it has made achievements in operations and internal management, the fierce competition in talent market has put it at a disadvantage which encourages grave R&D staff turnover and low efficiency. This paper makes a detailed analysis on the current problem and consequences of R&D staff turnover in this company.Through questionnaires and interviews, the paper analyses the reasons why many R&D employees leave SR electric company. It concludes that this company has such an imperfect, chaotic managerial system and a backward philosophy of human resources management that employees find it hard to actualize them in the company. What's more, in their eyes, the company doesn't seem to have a promising future. These are the major factors that the company is losing its R&D employees. Meanwhile, the paper also points out that knowledge workers' characteristics that R&D staff is equipped with and the current environment outside the company may contribute to the turnover.The paper summarizes the employee retention strategies applied by the prominent enterprises at home and abroad. Based on the causes of R&D employee turnover in SR electric company, it puts forth strategies for retaining R&D staff in companies. The key is to create a human-oriented company culture and retention system consisting of employee motivation and restraint mechanism which encompass salary that embodies individuals' value, benefit policies, performance evaluation system, merit motivation, and screening. This retention system can boost the organized flow of the R&D employees, thus bringing about profits forcompanies.Through the case study of retention strategies in SR electric company, the paper hopes that domestic enterprises which have the similar background can benefit from this case and that the domestic stated-owned enterprises can attach strategic importance to the present grave problem of employee turnover and set up appropriate employee retention strategies in order to increase their competition. It also hopes that the top management of SR electric company can insist in implementing, revising and perfecting R&D employee retention strategies so that it can enable the highly efficient R&D staff to create glory for it.