Study On The Countermeasures For Employee Turnover In The Y Branch Of Postal Savings Bank Based On Turnover Intention

Recently,domestic and international economic growth has slowed.With the promotion of interest rate marketization,the innovation of financial institutions’ new products,and the popularity of Internet finance,the traditional financial industry is now facing huge challenges posed by such a series of changes.The traditional banking industry is suffering from shrinking revenues,rising costs,and sluggish asset growth.On the one hand,developmental conflicts and pressures are being transmitted from top to bottom to each employee;on the other hand,the fiercely competitive market has also kicked off the battle for talent.Since its establishment in 2008,Postal Savings Bank of China(PSBC)Branch Y has been expanding its team through social and campus recruitment,yet an increasing number of employees have decided to resign due to work pressure and higher salary offers from external agencies.Employee turnover has resulted in cost loss and reduced work efficiency for Branch Y,and it has also affected the sustainability of business development,making it an urgent issue to be addressed.This study takes the context of the general environment in which some emerging characteristics and trends of employee turnover in banks,and focuses on this issue at Postal Savings Bank of China(PSBC)Branch Y.First,various influencing factors of employee turnover have been examined through the literature review method;second,interviews were conducted with the departed employees to understand their specific situation;third,questionnaires were designed by incorporating the interview results and then distributed via an online platform with the adoption of SPSS correlation and regression analysis of the samples.It is concluded that the main reasons for employee turnover in Branch Y are work pressure,salary package,performance appraisal,and learning and cooperation.Finally,the detailed strategies for employees retention in Branch Y were proposed in the following four aspects:strengthening management of career planning,improving the quality of performance appraisal management,attaching importance to the development of humanistic care systems,and establishing a sound salary system.