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Category - Management

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Which strategy should a company employ to combat high turnover in a competitive industry?
  1. Increase recruiting efforts.
  2. Make the workplace more competitive.
  3. Spend less on HR, since most employees leave anyway.
  4. Implement employee retention programs.
Explanation
Answer: D - The company should implement employee retention programs. High turnover makes it difficult to implement larger strategies because the team is constantly being patched back together. Employee retention programs can include aspects such as health benefits, workplace perks, vested stock options, or retirements plans.
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