An Empirical Research On The Relationship Between Payment Strategy And Turnover Intention

As a knowledge-intensive industry, a large part of its industry employees are knowledge-based workers. The full-range-entry of the foreign banks and the rise of city commercial banks make all kinds of financial products and services become assimilated. Therefore, in a new period the core competitiveness of bank enterprises relies heavily on the high-end knowledge and professional services provided by the staff. Talented people are the fundamental factor for the survival of bank industry. However, the turnover rate of bank enterprise has been high for a long time. Frequent turnover is bad to the development of the staf’s career. Meanwhile it is a huge obstacle to the normal operation of the enterprise. This paper takes Qingdao banking industry for example, exploring the relationship between payment strategy and turnover intention of employees, in order to provide theoretical guidance and experience for the reduction of the banking turnover rate.This paper applies questionnaire survey method and statistical analysis method, taking200employees of Qingdao banking industry as subjects, discussing the relationship between payment strategy and turnover intention of employees. It turns out that payment strategy is a key factor which influences turnover intention of banking industry employees. Four dimensions-compensation level, compensation system, base of salary and compensation fairness evidently influence turnover intention of employees in which salary base has the biggest influences. Among other factors which influences turnover intention, employees of Qingdao bank industry are very sensitive to development opportunities, and working environment and material motivation are also important factors. This paper mainly discusses reasons why recently employees of bank industry values development opportunity more.