NAME_1 is recently hired as a HRM manager in an international high-tech company. Now he is confronting a serious issue in terms of high turnover rate. With more and more top-performing talents leaving, the company’s workforce is under great threat. It’s urgent to develop a series of appropriate retention strategies to keep and motivate talents. Please provide NAME_1 with constructive suggestions about the possible reasons of high turnover rate and how to design the retention plan.
Specifically, you can try to do the analysis from the following points.
(1) What are the possible reasons of voluntary turnover? (10marks)
(2) What approaches can be used to retain and motivate top-performing employees? (23marks)