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Motors and More is currently experiencing some voluntary turnover which can be very costly. Some of the costs that Motors and More could incur as a side effect of turnover are listed in Figure 4.Some of the reasons for the turnover can be retirement, job dissatisfaction, alternative employment, HR issues, discrimination issues, and more (McCain, 2007). To combat this turnover, the Motors and More HR department will focus on being competitive with other employers, eliminating any kind of hiring discriminations, and fostering a work culture that celebrates diversity, innovation, and continued learning/development. Motors and More will also need to offer more room for advancement, understand that people are our greatest asset, and work within our community to hire and retain the best and brightest individuals. Retention is beneficial for countless reasons. When employees know their jobs, they have good individual, team, and organizational performance. High performance promotes a positive work environment, where tenured employees peer coach and high drive performance. Knowledgeable employees also provide a competitive advantage for the organization and allow the company to quickly respond to changes in strategy and/or direction. This flexibility is vital tothe prospector strategy and can help Motors and More become an employer of choice in the area.With a shortage of labor in the area, Motors and More must offer competitive and attractive employment offers. To determine the effectiveness of recruiting efforts, the company should use Page 13
MBA 533 – Human Resource in Management - HR Projectoffer acceptance rate. According to Amy Caswell (2015), the offer acceptance rate is the percentage of offers made to candidates that are accepted and is a key measurement for talent acquisition teams. The ideal number varies based on industry but usually ranges from 80-95%. Establishing the baseline for acceptance rate and then tracking month over month will allow Motors and More to determine the competitiveness of their offers compared to others in the market and give them the chance to adjust accordingly. V.Compensation Plan - 100 Points (Module 4)Motors and More’s employee compensation compares relatively to other organizations in the area. Most organizations use several different methods of direct financial compensation such as bonuses, hourly wages, salaries, overtime pay, and commission. Most large organizations consist of compensation departments such as benefits, payroll, and salary; while other small businesses may have their department set up totally different due to a small number of employees as well as small administrative HR departments. Motors and More will lead the local market by ensuring that all employees are treated equally, fair and offers competitive base pay. Motors and More believes in satisfying their customer with the best products. The organization expands its growth within the industry by using advanced technology to compete with other organizations making