Study On Reasons And Countermeasures Of Brain Drain Of Qilu Petrochemical Corporation

In the age of rapid economic development, more access to information and fierceenterprise competition, human resources development and talent employment drivethe companies to promote their core competitiveness. When talent managementmarket is growing, talent flow turns out more frequent and brain drain even occursin state-owned enterprises(SOE for short).Since SOE have been a dominant part inChina’s economy, a frequent brain drain will inevitably affect their sound andsustained growth. Therefore, thorough analysis and the related study strategy on thebrain drain in SOE are required.Qilu Petrochemical Co., a subsidiary of Sinopec, has suffered from a seriousbrain drain in these years due to its poor management and employment competitionwith emerging private companies and FDI companies who are in bad need of talents,in a big contrast to its prime time when all kinds of talents rushed forrecruitment.How to improve the HR management and curb the brain drain to enhancethe corporate core competitiveness is the urgent question that confronts the company.Based on theories of the incentives, performance management and compensation,the author systematically analyses personnel management situation and furthersearches the reasons for brain drain these years in Sinopec Qilu PetrochemicalCo.Effective measures to improve HR management,quicken the step of talentsdevelopment and retain staff are drafted out in the paper from perspectives of buildinga new performance evaluation mechanism, better remuneration and incentivesmeasures, quickening talent development channels and employee assistance plans, inthe hope that the study results could contribute to the SOE HR mechanism building inthe fields of recruitment, training and duty distribution.