Relation Research Among Psychological Contract,Organizational Commitment And Turnover Intention

Since2006, China has fully opened up local business to foreign banks, which rapidly entered Chinese financial market and occupied market share. With localization strategy and the expansion of Chinese shareholding-system bank, which significantly increase the competition among Chinese financial talents. The fierce competition result in variety of consequences, such as the increasing annual staff turnover, budget of recruitment and training, and wastage of customer resources, and also often be easy to overlook invisible losses related to employee productivity and quality. When Chinese banking industry aware of the seriousness of staff turnover and retention, they are taking positive steps to change this situation, like joint-stock reconstruct, regarding human as foundation and offering better working conditions. Required for all cognitive reasoning, how to reduce employee turnover, prevent losing hazard and reduction of losing many managers have become close attention and urgent problem.The heart of the issues is associated with employees. In human resources management,"person" is seen as a scarcity of resources to development and operation. The theory of regarding people as the centre means help employees to realize their full potentials and allow them have consistent common development with organizations. However, under the current social and working environment, employees not only care about their present financial rewards, but also concern about future and opportunities of current working industry, organization culture and environment, their own self-development, and realization of self-value. Whether the organizations could meet implicit expectations of the employees, concerned about how it will impact the organizations. Experience tells us, the best approach is to communicate and coordinate of both sides, to reach mutual understanding and mutual trust and create a win-win situation. This allows both parties to maintain the psychological contract, in terms of achieving their expectations, and having a long term and pleasant cooperation.To find out reasons behind the above phenomenon, this article started from the factors of turnover intention, and pointing out turnover intention have certain degree of impact of psychological contract and organizational commitment. Many researchers considered organizational commitment is the result of psychological contract (Rousseau,1995; Morrison&Robinson,1997),so this research has identified organizational commitment as intermediary role, draw on the experience from many domestic and overseas scholars to divide structure of psychological contract and organizational commitment. Put the tridimensional theory of psychological contract and five key dimensions model in this article.From previous research we can know, previous scholars had done massive research on turnover intension from different views like organizational commitment, job satisfaction and organizational justice with MBA graduates and multi industry employees as research sample, which means these studies did not address (turnover intension/demission tendency/departure intension) research on specific industry and specific area.In this study, psychological contract and organizational commitment are selected as point cuts, and the four state-controlled banks employees in to Chengdu as research sample. In this area and industry, examine the impact of psychological contract and organizational commitment on turnover intention separately, and further explore the intermediary role and extent of organizational commitment between psychological contract and turnover intention.This evidence-based research combined with review and analysis of theory among variety scholars and integrate quantitative and qualitative study approaches together. Specific research methods are as follows:(1)Review and analysis literature to define and categorize psychological contract, organizational commitment and turnover intention and relationship mode among them.This research is on the basis of classification of psychological contract of Chinese scholar LiYuan, which is Organizational responsibility and employee accountability both have three dimensions:normative responsibility, interpersonal responsibility and the development type of responsibilities. And organizational commitment adopt five dimensions model of organizational commitment proposed. by Chinese scholars, Wenquan Ling, Zhican Zhang and Luoli Fang in2000, which are Emotional Commitment, normative commitment, ideal commitment, economic commitment and opportunities commitment.(2)This empirical research is through analyzing170questionnaires collected employees from four major state-controlled banks in Chengdu by Statistics Software SPSS Using single factor analysis to validate the impact of population properties on psychological contract, organizational commitment and turnover intention. Correlation analysis is used to measure the relationship between psychological contract and turnover intention, and psychological contract and turnover intention. Regression analysis is used to prove whether organizational commitment is mediate variable between organizational commitment and turnover intention. Finally, validate all hypotheses and analyze all the possible causes.This article has following parts:Introduction. Illustrate the background, necessity and importance of selected topic. From macro level, point out theoretical and practical implication of research on psychological contract, organizational commitment and turnover intention, then present this research content, method and article structure.Literature review. Including theories review of relevant concepts, structural dimension and relationships among psychological contract, organizational commitment and turnover intention, also interspersed analysis and comment of current Chinese research, to establish theoretical basis for later empirical research.Empirical analysis. Based on the theoretical foundations of literature review, Raising own research Hypotheses, and verify it by using statistical methods on questionnaires. Adopting revised and proved mature measurement forms, to measure the psychological contract, organizational commitment and turnover intention of four major state-controlled Banks, including the distribution and collection of questionnaires, Statistics and Analysis of relevant data, to determine the impact and relationship among variables.Conclusions and Prospect. Based on the application of this research results, we generalize and summarized the main conclusion from empirical research, draw the following conclusions:(1)Population properties have certain impact on psychological contract, organizational commitment and turnover intention. (2)The three dimensions of psychological contracts are all have negative effects on turnover intension.(3)In the five dimensions of organizational commitment, economic commitment, normative commitment and ideals commitment have negative effects on turnover intension.(4)Economic commitment and opportunity commitment take incomplete intermediary role between psychological commitment and turnover intention.4Related recommendationsThe innovation and significance of this article is that state-owned banks is used to name "golden rice bowl", which means it provides stable, low pressure and well-paid job opportunities. Most of people may consider this kind of jobs they dream of. With economic development, the growth of job opportunities, employees have more choices and platform to present themselves. At this time, the idea of demission has become ordinary things, and also appropriate to certain extent of employee turnover, this action would bring fresh blood to enterprise and maintain dynamic and flourish. However, the high employee turnover intension forces state-owned banks to realize the importance and seriousness of this issue, which is the research gap that this article would address.The majority of scholars research turnover intension from the perspective of organizational commitment, only focus on its individual impact. Although some scholars concerned about job satisfaction, performance and other mediating variables, few them explore organizational commitment as the mediator, which is address by this article, and also discuss the mediate role and extent.