How retention strategies of organisation has an impact on labour Dissertation

How retention strategies of organisation has an impact on labour turnover in China - Dissertation Example Throughout the entire period in fulfilling the objectives of this dissertation, I was greatly blessed with his extensive guidance and supervision over my work. I cannot complete this part without saying ‘thank you, sir’. Subsequent to that, my colleagues and friends who also played their part have extended their hand for my project; the successful culmination of this dissertation has also observed the role of my friends. For such contribution, I am also indebted to them. Executive Summary The report objectives were to investigate the recent status of labour turnover in China, reason for increasing labour turnover, identification of retention strategies and effective way to reduce turnover in China. The literature review highlighted the theoretical underpinnings of turnover intention and its related factors with a particular focus on the Chinese market. The online survey was carried out to entertain these objectives. The main findings indicate that job variety, decision making and job involvement have no or zero correlation with turnover intention; job variety, decision making and job involvement have a weak positive correlation with job satisfaction and the same has been found with organizational commitment. The majority of the respondents attach considerable significance to â€Å"leave† incentive as an option to switch over to new organization and training, career help and appraisal can be employed as effective tools to reduce the labour turnover and simultaneously they can be used as retention strategies. The future research should be focusing on the different incentives offered by the employers. Table of contents Introduction 6 Problem statement 8 Research Objectives 8 Revised Literature Review 9 Labour turnover 9 School of turnover 10 Objective opportunities 10 Turnover intention 12 Retention strategies 12 Job satisfaction 13 Organizational commitment 14 Job involvement 14 Job or skill variety 15 Decision making 15 Gap in research 15 S ummary 16 Methodology 18 Research philosophy 18 Hypotheses formulation 19 Research approach 19 Research instrument 20 Data collection method 21 Pilot testing 22 Sampling 23 Sampling strategy 23 Validity and reliability 23 Discussion and analysis strategy 24 Research limitations 24 Research ethics 25 Discussion and analysis chapter 27 Correlation 27 Turnover intention and job variety 27 Turnover intention and decision making 29 Turnover intention and job involvement 30 Job satisfaction and job variety 31 Job satisfaction and decision making 32 Job satisfaction and job involvement 34 Organizational commitment and job variety 35 Organizational commitment and decision making 36 Organizational commitment and job involvement 37 Benefits of Switching organizations 38 Retention strategies 39 Conclusion 40 Recommendations 43 References 45 Appendices 49 Introduction The Chinese economy has grown rapidly. This growth has also increased the Chinese economic environment along with raise increa se in the aggregate employment level. However, this rise increase in the employment has also resulted in labour turnover. Labour turnover can be divided into two main dimensions: voluntary and involuntary. The former reflects employee decision to discontinue offering employment services and the latter relates to employer’s decision to cease up employment relationship with employee. Abbassi and Hollman (2000) maintain that there are five reasons which give rise to employee turnover including managerial style, hiring practices,