What are the company’s potential costs of employee turnover, both financially and non-financial? Think about the cost of hiring, training, low production, and time spent by HR and managers for the hiring process.
How can HR effectively measure employee turnover and retention rates? What strategies have been used at the company? Are they effective? What can be done differently to improve this?
How can HR develop an effective retention plan that aligns with the company’s goals and values? What can be done to improve the turnover rates? Do benefits need to change? How much will these new benefits potentially cost a company?
How can HR assess the effectiveness of the retention plan and make adjustments over time? How often will they measure this? What is a reasonable short-term and long-term goal to improve the retention/turnover numbers?
Your conclusion should summarize your findings and strategy.
