The First Step in Retention Planning Involves

question 33

Multiple Choice

The first step in retention planning involves:

• A) collating JDI and other survey findings.
• B) evaluating current retention plans.
• C) setting clear goals for reduced turnover.
• D) creating individual strategies for the goals.
• E) budgeting to track money spent on the retention plan.

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Definitions:

Fixed Asset Turnover Ratio

A financial metric that measures a company's efficiency in generating sales from its fixed assets, calculated by dividing net sales by the average net fixed assets.

Financial Statements

Records that provide an overview of a company's financial condition in both short and long term, including the balance sheet, income statement, and cash flow statement.

Common Shares

Equity securities that represent ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Contingency Reserves

Funds or resources set aside to cover unexpected costs or losses in a project, program, or portfolio, providing a financial cushion.