COUNTERMEASURES TO ENCOUNTER BRAIN DRAIN IN CHINA’S SECURITIES INDUSTRY DUE TO COVID-19
DOI:
https://doi.org/10.51200/mjbe.v9i1.3771Keywords:
COVID-19, securities industry, brain drain, human resource countermeasures, ChinaAbstract
Brain drain has overshadowed the management of the securities industry before COVID-19’s threat. Things were getting worst during the COVID-19 pandemic in which the development of the Securities Industry requires an immediate solution to brain drain to normalize the effect of the epidemic. However, it is found difficult to attract talents as many of them prefer to grab the opportunity out there as China is becoming a more innovative-driven economy. This paper analyzed the implication of brain drain in human resource management in the Securities Industry. Countermeasures were proposed to encounter the problem of turnover which saw the exit of talents. Among others, improving training mechanisms, applying reasonable performance appraisal methods, establishing fair and competitive salaries, creating a humanized atmosphere, and nurturing people-oriented corporate culture might improve the efficient management of human resources and strengthen back the Securities Industry.
References
Alejandro. (2021). Vegamunoz Alejandro, Gonzalezgomezdelmino Paloma, Espinosacristia Juan Felipe. Research on the brain drain [J]. Sustainability, 13 (6).
Bijwaard, G. E. (2013). Return migration of foreign students, Discussion Paper Series 7185. Institute of Labor Economics. https://doi.
org/10.2139/ssrn.2210845
Fan, W. (2021). Study on employee turnover of Jingdezhen branch of JX Bank (Master’s thesis). Jiangxi University of Finance and
Economics.
Gu, F., Ding, J. & Wang, B. (2020). Research on talent gap and countermeasures in the e-commerce industry. E-commerce, 2, 82 – 84.
Gyansah, S. T., & Guantai, H. K. (2018). Career Development in Organizations: Placing the Organization and Employee on the same pedestal to enhance maximum productivity. European Journal of Business and Management, 10 (14), 40 – 45.
Kurekova, L. (2013). Theories of migration: Conceptual review and empirical testing in the context of the EU east-west flow. Paper presented at the Paper Prepared for Interdisciplinary Conference on Migration Economic Change and Social Challenge, London: University College London.
Lin, R. (2004). Seven factors to win employee loyalty. Talent Outlook, 7 (44).
March, J. G. & Simon, H. A. (1958). Organizations. Wiley.
Maslow, A. H. (1943). A theory of human motivation. Psychological Review, 50 (4), 370 – 396.https://doi.org/10.1037/h0054346
Mobley, W. H. (1977). Intermediate linkages in the relationship between job satisfaction and employee turnover. Journal of Applied Psychology, 62 (2), 237 – 240 https://doi.org/10.1037/0021-9010.62.2.237
Mobley, W. H. (1982). Some unanswered questions in turnover and withdrawal research. The Academy of Management Review, 7 (1), 111 - 116. https://doi.org/10.2307/257255
Price, J. L. (1977). The study of turnover [M] Ames. Iowa State University Press.
Qi, M. (2018). The cause analysis and countermeasures of the brain drain rate in the high-tech industry. Modern Economic Information, 19, 46 – 48.
Robbins, F. (2005). Selecting and recruiting staff. Nursing and Residential Care, 7 (7). https://doi.org/10.12968/nrec.2005.7.7.18235
Wang, J. (2013). Design of employee incentive mechanism based on organizational commitment[J]. Operations Research and
Management, 22 (2), 222 – 228.
Wang, W. (2020). Research on Problems and Countermeasures of talent cultivation in state-owned commercial banks. Science and Technology Economic Market, 6, 126 – 128
Wang, W. (2021). Research on the brain drain of accounting firms in Hebei Province and its countermeasures. Hebei Enterprises, 5, 122 – 123
Xie, J. (2019). How can human resource managers improve their upward influence? – Dr Tan Lingbo’s book review of “A Study on the Upward Influence of Human Resource Leaders: A Perspective Based on Issue Marketing.” Productivity Research, 2, 158 – 160.
Xu, W. (2014). An analysis of the abandonment of exams based on the perspective of human capital investment. Oriental Corporate
Culture, 6, 168.
Ye, Y. (2020). Study on the Countermeasures of brain drain of domestic private enterprises in the new economic era. Commercial Economy, 2, 76 – 77
Zhao, L. (2018). Brain drain problems and countermeasures of e-commerce small and micro enterprises -- Take Longnan, Gansu Province as an example. Statistics and Management, 6, 43 – 46.
Downloads
Published
How to Cite
Issue
Section
Total Views: 238
| 
Total Downloads: 186
