Title: Describe employee retention and termination.
Course: Marketing Management (12166) > Section: Examining the Organizational Structure

Description should include

- retention strategies
  - enhanced insurance packages
  - employer contributions to retirement savings
  - educational and professional development opportunities
  - bonuses and raises
  - employee stock ownership plans
  - childcare or eldercare assistance
  - alternative (e.g., flexible, remote) work schedules
  - paid time off

- termination strategies
  - maintain current documentation of employee’s performance
  - consult with higher management
  - review employee’s personnel file
  - organize and prepare script and resources for the exit interview
  - determine any items the employee must return to the company and any passwords that must be changed upon termination
  - prepare the termination letter
  - consult legal counsel as needed
  - invite a witness to sit in on the exit interview
  - document the exchange.

Process/Skill Questions:

- Why is it important to have an employee retention plan?
- How does professional development support employee retention and improve productivity for the company?
- How do childcare programs improve employee attendance, productivity, loyalty, and retention?
- How is money spent on employee retention actually an investment?
- How should one evaluate an employee retention plan?
- What is the purpose of an exit interview?