The Impact of Employee Loyalty on Firm Performance in Chinese Engineering Cost Consulting Companies
DOI:
https://doi.org/10.54097/hq6cd992Keywords:
Engineering Cost Consulting Companies, Employee Loyalty, Firm PerformanceAbstract
This study takes China engineering cost consulting enterprises as the analysis object, collects and analyzes 352 valid cases of engineering cost consulting enterprises, evaluates the current status of employee loyalty and firm performance in the engineering cost consulting field, explores the role relationship and influence path of employee loyalty on firm performance, and proposes that attention should be paid to improving firm performance through the cultivation of employee loyalty. The research results show that the positive correlation between employee loyalty and firm performance is still applicable in the field of engineering cost consulting enterprises. In terms of influence paths, employee loyalty has a positive promoting effect on firm performance. Meanwhile, there is still considerable room for improvement in the relationship between employee loyalty and firm performance in engineering cost consulting enterprises. These findings reveal the mechanism of employee loyalty's impact on firm performance in engineering cost consulting enterprises, broaden the industry field of research on the relationship between employee loyalty and firm performance, and provide data references for personnel management and performance improvement in knowledge-based enterprises.
Downloads
References
[1] Andrews, R., Boyne, G. A., & Moon, M. J. (2010). Assessing firm performance: Exploring differences between internal and external measures. International Public Management Journal, 13(2), 105-129.
[2] Cao, Z. (2012). A study on the influencing factors of employee loyalty and its relationship with job performance in Shanxi high-tech enterprises. Shanxi University of Finance and Economics.
[3] China Cost Consulting Industry In-depth Research and Investment Trend Report (2022-2029). https://m.sohu.com/a/547484540_121308599.
[4] Coughlan, R. (2005). Employee loyalty as adherence to shared moral values. Journal of Managerial Issues, 17(1), 43-57.
[5] Delaney, J. T., & Huselid, M. A. (1996). The impact of human resource management practices on perceptions of firm performance. Academy of Management Journal, 39(4), 949-969.
[6] Delmas, M. A., & Pekovic, S. (2018). Corporate sustainable innovation and employee behavior. Journal of Business Ethics, 150(4), 1071-1088.
[7] Dess, G. G., & Robinson, R. B. (1984). Measuring firm performance in the absence of objective measures: The case of the privately-held firm and conglomerate business unit. Strategic Management Journal, 5(3), 265-273.
[8] Eryigit, N., & Uslu, T. (2016). The effect of firm creativity on team performance by mediating role of self-organization and team perception in SMEs, public and private sector. Eurasian Journal of Business and Management, 4(2), 65-71.
[9] Fei, Z., Zhou, Y., & Yen, C. (2018). How humble leadership fosters employee innovation behavior: A two-way perspective on the leader-employee interaction. Leadership & Organization Development Journal.
[10] Frederick, A. (2001). A satisfying leadership behavior model for design consultants. International Journal of Project Management, 19(7), 39-50.
[11] Guangzhou University, Zhongliang Engineering Consulting Co., Ltd., et al. (2021). Guangdong Province Cost Engineering Industry Development Report (2019-2020). China Architecture & Building Press.
[12] Guzzo, R. A., & Dickson, M. W. (1996). Teams in organizations: Recent research on performance and effectiveness. Annual Review of Psychology, 47(1), 307-338.
[13] Han, X. (2020). A study on the influencing factors of employee turnover intention in cost consulting companies: A case study of Company X. Beijing University of Civil Engineering and Architecture.
[14] Ke, Y. (2013). A study on the relationship among firm commitment, employee loyalty, and firm performance in private enterprises. Chongqing University.
[15] Kuang, H. (2021). A study on performance evaluation of cost consulting enterprises based on BSC+KPI. Xihua University.
[16] Li, H., & Guo, X. (2019). A study on the relationship between employee loyalty and job performance in the software development industry: A case study of three companies in Zhongguancun. Coastal Enterprises and Technology, (4), 12-16.
[17] Li, X. (2019). Discussion on the development of cost consulting enterprises under the new situation. Engineering Economy, (2), 5-9.
[18] Li, Y., & Xiong, X. (2017). A study on the influencing factors of core employees' loyalty and its relationship with performance in insurance enterprises: An empirical analysis based on sampling surveys. Insurance Research, (9), 86-100.
[19] Lu, Z. (2010). Employee loyalty: The path to corporate performance during the financial crisis. Finance and Accounting Research, (9), 54-55.
[20] Miller, A., Wilson, B., & Adams, M. (1988). Financial performance patterns of new corporate ventures: An alternative to traditional measures. Journal of Business Venturing, 3(4), 287-300.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
