The Study of Employee Retention of CPLotus Company in China

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In today business setting, the question of how to keep and maintain qualified employees happens all the time. Many organizations have been trying to come up with the answer of how can a company attract and retain workers successfully. These questions are prime concerns for every organization, and human resource professionals put much effort on resolving these problems.  CP Lotus Company, one of the large hypermarket companies in China, also has been facing the problem of employee retention. According to the meeting with one of the top executives, Senior Vice President of Purchasing Department of CP Lotus Shanghai, he mentioned that in the recently years CP Lotus has a very high employee turnover rate which is up to 45%, and it has become a critical concerning issue of the company. The leaving reasons are so varied and uncertain. However, it is found that Chinese employees nowadays have more ambitious in pursuing their career advancement. One of the reasons that they decided to join big companies, especially large MNCs in the first place is for their professional development. To compete with other competitors both in the same and different industries to retain professional Chinese workers, CP Lotus Company needs to be more creative in finding effective and competitive ways to attract and make them confident that staying with the company will increase their professional worth.  This research focuses on the factors that affect the employee turnover of CP Lotus Company in China. In the first stage, the problem of the company will be discussed by using the information from the interview by having 10 respondents from several departments and positions. Then companys HR practices will be analyzed whether it is fully effective or not by using the employees viewpoints from the secondary data, which is called exit interview of HR department, and at the final stage effective retention tools and HR management strategies will be suggested to the company along with other companies successful cases as an example.  From the study, it can be concluded that Chinese talented workers have a higher expectation from their organization than they did in the past. Since the company is a multinational enterprise, it is very necessary for them to learn the Chinese employees preferences and expectations. The survey of employee satisfaction is believed as a tool to get into their opinion toward the company. However, the talent management plan that is implemented by many organizations around the world is believed as another effective tool to retain Chinese employee. The important point is the company needs to know how to adapt all the management and policy to match the organization culture and employees expectations.  To summarize, employee retention is considered as a core issue of a companys HR department, and it is important to build an effective workforce and a thriving business. Also, it is vital to short-term and long-term stability, efficient day-to-day functioning, and the achievement of long-term companys goal.
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