| Summary: | Employee turnover is a persistent challenge for all businesses in today's highly
competitive economy, as employees are an organisation's most valuable asset.
Employee turnover, particularly when critical employees depart, will result in
considerable financial losses for the business. As the largest component of the
labour force, Generation Y has been proved to have a high turnover rate and
turnover tendency (Lee et al., 2018). To shed light on why some millennial
employees consider leaving their employers while others do not, based on the
original model theory of job embeddedness, this paper examines the moderating
effects of job alternatives, individualism-collectivism, risk aversion, gender,
household registration and contractual nature on the relationship between job
embeddedness and turnover intention and work-related outcomes. Primary data
are collected via questionnaires from the target group of Chinese millennials.
According to the collected and analysed results, it is found that the view that job
embeddedness can well predict turnover intention is also applicable to Chinese
millennials. The findings also show that job alternatives, individualism-collectivism,
risk aversion, and gender can act as moderators in the relationship between job
embeddedness and turnover intention, organisational citizenship behaviour and
employee performance. Taken together, these findings suggest that individuals
can be embedded differently and react differently to embedded perceptions. Based
on these findings, an employee retention framework incorporating risk aversion,
job alternatives, individualism-collectivism, as well as gender retention strategies
are conceptualised and recommended to human resource practitioners in the
operations and development industries to optimise their millennial employee
retention.
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