Question

Name 4 things a firm can do to reduce costs of turnover

Answer 1

To reduce costs of turnover, a firm can invest in technology and human capital, provide incentives, and adopt strategies to reduce turnover.

Step-by-step explanation:

To reduce costs of turnover, a firm can do the following:

1. Invest in technology, human capital, and physical capital to improve productivity and efficiency.
2. Provide incentives within a market-oriented economic context to motivate employees and increase retention.
3. Implement strategies to reduce turnover, such as fostering a more educated workforce, adopting fiscal policies that encourage investment in human capital and technology, and creating a stable and market-oriented economic climate.

By implementing these measures, firms can reduce the costs associated with turnover and create a more stable and productive workforce.