The Purpose of a Retention Strategy Is to Maintain a Workforce

question 88

True/False

The purpose of a retention strategy is to maintain a workforce with the KSAOs and motivation to perform key work tasks.

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Definitions:

Saving

The act of setting aside a portion of current income for future use, typically to achieve financial goals or provide a safety net.

APS

Advanced Planning and Scheduling is a system that integrates production planning and shop floor scheduling, improving manufacturing efficiency.

Disposable Income

Funds designated to households for the dual purposes of saving and spending post income tax considerations.

MPC

The marginal propensity to consume, representing the proportion of additional income that an individual will spend on consumption.