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Strategies to reduce turnover

If a person says to you, "It's easy to reduce turnover, just pay people more money," what is your response?
If you contend that paying more money is not the solution, what recommendations would you make to reduce turnover?

540 words with reference

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During the infamous President Ronald Regan era the American economy took many turns; some for the worse and some for the better. In the late 1970s to early 1980s studies have shown that layoffs and turnovers were high. Much of these layoffs were in the automotive and manufacturing industry. One of the primary economic initiatives during President Regan's era was to make the United States more competitive on an international level. As the government still felt the effects of the recession, many companies did as well. In order to stay in business and maintain some form of market dominance, many Fortune 500 companies had to restructure their organization's dynamics and the only way to do so was through layoffs for immediate flash to bang. In saying this, many business leaders believe that it's easy to reduce turnover by just paying the people more money.

If a peer was to make the statement "It's easy to reduce ...

Solution Summary

During the infamous President Ronald Regan era the American economy took many turns; some for the worse and some for the better. In the late 1970s to early 1980s studies have shown that layoffs and turnovers were high. Much of these layoffs were in the automotive and manufacturing industry. One of the primary economic initiatives during President Regan's era was to make the United States more competitive on an international level. As the government still felt the effects of the recession, many companies did as well. In order to stay in business and maintain some form of market dominance, many Fortune 500 companies had to restructure their organization's dynamics and the only way to do so was through layoffs for immediate flash to bang. In saying this, many business leaders believe that it's easy to reduce turnover by just paying the people more money

540 words with reference

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