Zero Defection Refers to When a Company Can Retain All

question 12

True/False

Zero defection refers to when a company can retain all customers it can serve, profitably or not profitably.

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Definitions:

Market Pricing

The process of determining the price of a job in the external labor market through salary surveys and benchmarking exercises.

Wage-Rate Compression

Compression of differentials between job classes, particularly the differential between hourly workers and their managers.

Employee Morale

The overall outlook, satisfaction, and confidence that employees feel towards their work and workplace environment.

Absenteeism

The habitual or frequent absence from work or duties without good reason, which can impact organizational productivity and morale.