Answer to Question #243044 in Management for Madhu

Question

1. Imagine you are the Director, HR of a company which is struggling to retain their staff members. You believe that increasing compensation would improve the employee retention rate. Explain your opinion for above matter.
(Brief note)

Answer 1

Yes. A decent remuneration package ensures an attractive compensation plan and aids in lowering the company's turnover rate. Employees will be more motivated to stay in their jobs, which will save money on possible turnover costs.