A STUDY ON THE MANAGEMENT OF THE NEW GENERATION OF STAFF TURNOVER IN STATE-OWNED COMMERCIAL BANKS: A CASE STUDY OF X BANK

Abstract

After China’s financial industry having entered into rapid development with China’s accession to the WTO, joint-stock commercial banks have also risen in various places, and the number of branches established by foreign banks in China has gradually increased, showing that they were once monopolized as China’s financial industry continues to reform and develop. The status of the four state-owned joint-stock commercial banks has been shaken.  Foreign banks and joint-stock commercial banks have their own strategies in order to attract the new generation of employees who are the core force of enterprise development. However, the issue of the new generation of employees leaving in state-owned commercial banks has not been taken seriously.

The concept of the new generation of employees is very broad and belongs to the definition of a group.  No matter how Chinese and foreign scholars define this group, this group is already the core force of enterprise development today. They have several characteristics that are different from those born in the old generation, such as more independent thinking and pursuit of democratization.  The learning ability is very strong; the level of education is higher; the innovation ability is stronger; and so on.

However, the new generation of employees has a major problem that cannot be ignored in the banking industry, and that is "resignation."  The business scope of state-owned commercial banks accounts for a very large proportion of the economic field, which is the foundation of a country’s financial system. The phenomenon of the loss of the core force for development will obviously have a huge impact on the stable operation of state-owned commercial banks and is not conducive to state-owned commercial banks.  The continuous improvement of commercial banks' operating capabilities will also have a negative impact on multi-charging.

This paper will focus on the definition and characteristics of the new generation of employees, using Bank X as an example, the current development of Bank X and the current development of the new generation of Bank X employees, and the negative impact of the new generation of Bank X employees after their departure. A comprehensive analysis of the reasons for their resignation was conducted, and on this basis, the countermeasures were put forward to reduce the turnover rate of the new generation of employees in state-owned commercial banks, hoping to provide a proper resignation management plan, so that Bank X can proceed from its own reality and strengthen the state-owned company. The commercial bank management and construction adopt corresponding strategies to reduce the turnover rate of the new generation of employees and stabilize the countermeasures of talent team building.