Research On Solution Of Foreign Employee Turnover In D Consulting Company

Financial consulting,a new component of financial industry in China,embraced rapid development in recent years and has become increasingly prevalent especially with the financial market of China gradually geared to international standards,which attracted increasing number of banks,securities and insurance companies to expand their businesses in China and provide Chinese customers with varied financial products.In this case,financial consulting companies are committed to providing customers with selected financial products,financial management training and other financial services,thus bridging the communication gap between financial institutions and customers.As a foreign-funded startup in financial consulting,D Company is mainly engaged in overseas financial consulting,thus most of its customers are foreigners and its foreign employees account for more than 90% of the total.However,due to the outbreak of COVID-19,the international talent exchange slowed down and the talent introduction plan tightened continuously according to government policies,D Company was trapped by the high foreign employee turnover.Particularly,in recent five years,it even recorded an average turnover rate above 30%,which is much higher than the recruitment rate.The company is challenged by the limited talent pool and even unable to find suitable candidates in the talent market,significantly increasing its recruitment cost and training expenses.Under the background of financial consulting which D Company is engaged in,this thesis is intended for studying the foreign employee turnover through questionnaire survey and employee interview in D Company,to highlight impact of personal positive emotions and optimistic and healthy psychology on the company’s performance from the perspective of positive psychology.In addition,importance is also attached to the role of positive psychology in improving employee satisfaction,integrating corporate culture effectively,enhancing team cohesion,and creating a free and optimistic working environment,especially in a foreign-funded company embracing diversified cultures where the management has to work with employees featuring different nationalities,religions and cultures.This thesis analyzes the problem of foreign employee turnover in D Company through literature research,case analysis,questionnaire survey and in-depth interview,and finds out the main causes of this problem,for instance law limitations,defective salary and welfare system,promotion barriers for foreign employees,unsatisfactory performance appraisal system and failure of employees in recognizing corporate culture.Meanwhile,this thesis discusses the problem in details through questionnaire survey and in-depth interview,and puts forward such solutions as emphasizing psychological construction among employees,leading employees to relieve working pressure and improve occupational wellness,and highlighting the positive effect of sound internal characters such as being strong,tolerant,careful and generous on personal and team efficiency.This thesis is expected to effectively relieve the D Company from high foreign employee turnover,lower its employee turnover and put forward suggestions for improving employee satisfaction,as well as give a reference to the foreign-funded enterprises in China in foreign employee turnover,salary management,performance appraisal and team building.