“Strong retention practices might reduce turnover, however they limit the introduction of new talent, knowledge and perspectives, leading organisations to become stale and complacent, resisting change as well as innovation”.
(a) Using organisational instances where possible to support your argument, indicate how far you agree or disagree with this claim.
(b) What are the “strong retention” strategies which organisations might typically pursue in order to decrease their labour turnover?
(c) How can an organisation with strong retention practices avoid becoming ‘stale’?
Your newly-appointed Chief Executive Officer (CEO) argues which producing a human resource strategy and a human resource plan is a waste of time, money and effort – because a strategy always gets overtaken by events and short-term priorities always have to take superiority over longer-term ambitions.
(a) What is the evidence in support of your CEO’s analysis?
(b) Giving evidence where you can from authoritative sources, describe how creating a human resource strategy and a human resource plan can be worthwhile activities. How would these provide measurable advantageous outcomes for the business?