Research On The Problem Of Employee Turnover In Yitong Enterprise

Against the backdrop of increasingly fierce market competition, state-owned enterprises have been diversifying their businesses in order to transform their internal resources into comprehensive advantages. Human resources, which are at the core of enterprise’ resources, play an integral role in the corporate development. Unfortunately, such ambition has been largely undermined by high employee turnover rate as a consequence of rivalry. This essay aims to analyze this issue in the case of "Yitong Enterprise" by employing relevant theories to analyze the company, causes of turnover, and its impact on the company, adopting "the record sheet of face-to-face interviews with ex-employees"and "questionnaire for employee satisfaction", and analyzing the current situation on employee turnover to assess the range of factors contributing to brain drain. It is concluded that the high turnover rate in the company is largely due to external factors such as tempting offers provided by rival companies to deal with the issue of talent shortage and a multitude of internal factors including unsatisfactory pay, authoritarian management and high work pressure, family and personal factors, limited career prospect as perceived by employees, lack of training and internal communication, and other problems stemming from problematic management. The corresponding strategies to counter this problem include the offer of corporate stock shares, flexible pay scale, enhanced sense of belonging, flexible working hours, augmented corporate culture and professional training, diverse means of communication, as well as keeping a strict control during the interviews and contract. In this way, it is hoped to reduce staff turnover rate to ensure fast company development on a diverse range of business.