To investigate the factors affecting the turnover rate of property management staff in shopping arcades / y Tse Tim Shing, Tim

Abstract

Human resource is one of the key factors for a company to achieve its success and employees play an important role to contribute to a company’s business development. Shortage of manpower will definitely affect the normal operation of a company. Therefore, it is desirable for a company to retain her employees so that it can reduce the turnover rate. It is costly to re-train an employee and it takes time for them to adapt a new environment. Experienced employees can work more effective as they know the operation and a culture of a company much better than freshmen. Property management is one of the highest turnover rate compared with other industries. In the recent research published by HKIHRM in 2014, the turnover rate of property management is the second highest turnover rate in the first quarter of 2014. We can find out that this industry is facing serious problem of manpower. There are also other reports provided by one of the leading property management companies, Sun Hung Kei Property Limited, which shows that the turnover rate of property management is getting serious in the past years. In 2014, the annual report stated about the turnover rate of property management department of this company is around 50%. By comparing the turnover rate found in 2010 and 2014 of the captioned company, it was revealed that the overall turnover rate of property management was increased from around 30% to around 50%. Furthermore, an annual report in 2013 by Swire Properties Limited, it also stated that the turnover rate of property management was around 25%. Therefore, we can understand that this industry is facing a severe problem of retaining the current employees. In this study, I would like to investigate the factors affecting the turnover intention of the property management staff working in shopping arcade. This study would also focus on the difference of the intention of different rankings, such as manager, officer and security guards. Also, this study will identify the working stress and job satisfaction of the property management practitioners to understand the difficulties and problems encountered by them. Retaining employees is an important issue to all companies. Employee turnover is recognized costly and harms all organizations (Phil C. Bryant (2013)). Huge competition occurs among shopping arcades, talented employees should be retained in order to ensure the quality of services.