Investigating the Job Satisfaction and Turnover Intention of Real Estate Practitioners: A Case Study in Suzhou

Abstract

AbstractThe phenomenon of talent turnover in Chinese real estate sector is serious in recent years, which has produced a negative impact on its sustainable development. Existing research in other fields has indicated that job satisfaction is one of the critical factors leading to turnover of the employees, but study on the relationship between job satisfaction and turnover intention is limited in the real estate area. This paper aims to explore the current situation of job satisfaction and turnover intention as well as their relationship among real estate practitioners. Based on extensive literature review, a questionnaire survey and interviews to eight professionals were conducted to the real estate practitioners in Suzhou, which produced 63 valid survey samples for statistical analysis. The results indicated that: (1) The real estate practitioners have a higher level of job satisfaction and a medium level of turnover intention; (2) The real estate practitioners with different genders and educational backgrounds have significant differences in their perception of job salary and welfare satisfaction level; The real estate practitioners with different genders, educational backgrounds and marital status have significant differences in their perception of turnover intention level; (3) There is a significant negative correlation between job satisfaction and turnover intention of real estate practitioners. Among them, salary and welfare (–0.811) have the highest value of correlation coefficient with turnover intention, followed by promotion and development (–0.618) and working environment (–0.414) and job nature (–0.499). This study can provide theoretical guidance for real estate enterprises to adopt more effective measures to reduce the turnover intention and improve job satisfaction level of their employees.KeywordsReal estatePractitionerJob satisfactionTurnover intention