Examlex
Name and describe the three requirements for effective strategic planning.
Reduction Strategy
A plan implemented to decrease resources, expenses, or workforce in an organization for efficiency or cost-saving purposes.
Early Retirement Packages
Financial incentives offered by employers to encourage older employees to retire before their normal retirement age, often as a cost-saving measure.
Turnover Rate
The percentage of employees leaving a company within a certain period, indicating the rate at which an organization gains or loses staff.
Training Programs
Structured educational initiatives designed to enhance the skills, knowledge, and performance of employees.
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