Retention Strategy

Introduction The purpose of this essay is to analysis Wallys Wonder wash drawing company study and discuss on the high upset locate in the case. Wallys Wonder Wash is a full service, high tech and high-touch car was company owed unaccompanied by Wally Wheelie. Wally plans to add four more facilities and expend his trade into bigger surrounding towns in the next 2 years. However, Wallys company has facing an overall high overthrow rate on the past year of 65% for attendants and 20% for bespoken service specialist. Employees are one of the assets to an organization that helps organization growth in the future and success in the billet. (Cascio 2003) Lost the giving in company gouge definitely can shake along the company loss in productivity, co-actors time, music directors time, operating errors and loss of client satisfactory. Wally should notice that if turnover rate still increasing, this is threat to Wallys company and it forget fail to expand his strategies even testament facing wear out in the future. Some argue that sometimes the employee turnover is broad(a) for weed out the lower level talent, but generally employee turnover is associated with cost (Anonymous 2008).

Studies have shown that turnover rates can carry a price tag across the unify States of $25 billion annually, with the cost of hiring and training an periodic worker at 300 to 700 times the workers hourly wage (Mckeown 2010). According to recent study, in every industry, companies font the take exception of extending the talent (Siegfried 2008). Retention strategy is a challenge to organization and is the critical to the long-term growth and success of the business (Siegfried 2008). Retaining key talent and keeping productivity high will surely help the organization to succeed and get fend for into growth mode. Retention strategy is critically important for Wally to retain his employee to stay and work for him. Furthermore, the major issues in Wallys case will be analysed and identify the major issues... If you want to get a full essay, order it on our website: Orderessay

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