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.

---

Definitions:

Economic Revival

A period of growing business activity signaling the end of a recession or economic downturn, often characterized by increases in employment, consumer spending, and investment.

Trade Deficit

A condition in which a nation's imports of goods and services surpass its exports, resulting in a deficit in the trade balance.

Absolute Advantage

A situation where a country, entity, or individual can produce a good or service more efficiently (using fewer resources) than another.

Comparative Advantage

The ability of a country or individual to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade.