Store 24 (A) Managing Employee Retention Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Store 24 (A) Managing Employee Retention Case Study Help

Sample Stores:

The regression analysis on the profitability of sample stores has been performed between the tenure of manager, tenure of the crew and financial performance of the sample stores.

Research Question:

Does the tenure of the manager and tenure of crew predict the financial performance of the sample stores?

Null Hypothesis:

The tenure of the manager and tenure of the crew does not predict the financial performance of the sample stores.

Alternate Hypothesis:

The tenure of the manager and tenure of crew predicts the financial performance of the sample stores.

Exhibit 3 of the document shows that at the 0.05 level of significance the P value is 0.000 which is lower than the 5 percent significance level and provides the statistically significantly strong evidence to reject null hypothesis ultimately to accept the alternate hypothesis which states that the tenure of manager and tenure of crew predicts the financial performance of the sample stores. The correlation found between these two variables is 0.466 which also shows that the positive relationship exists between these two variables.

Sample Stores with other Factors:

The regression analysis on the profitability of sample stores have been performed between the number of competitors, population, the indicator for open 24 hours or not, indicator for located in residential vs. industrial area, visible, 5 point rating on pedestrian foot traffic volume with 5 being the highest, fiscal Year 2000 Sales, manager skills, crew skills, service quality and financial performance of the sample stores.

Research Question:

Does the number of competitors, population, the indicator for open 24 hours or not, indicator for located in residential vs. industrial area, visible, 5 point rating on pedestrian foot traffic volume with 5 being the highest,fiscal Year 2000 Sales, manager skills, crew skills, and service quality predict the financial performance of the sample stores?

Null Hypothesis:

The number of competitors, population, the indicator for open 24 hours or not, indicator for located in residential vs. industrial area, visible, 5 point rating on pedestrian foot traffic volume with 5 being the highest, fiscal Year 2000 Sales, manager skills, crew skills, and service qualitydoes not predict the financial performance of the sample stores.

Alternate Hypothesis:

The number of competitors, population, the indicator for open 24 hours or not, indicator for located in residential vs. industrial area, visible, 5 point rating on pedestrian foot traffic volume with 5 being the highest, fiscal Year 2000 Sales, manager skills, crew skills, and service qualitypredicts the financial performance of the sample stores.

Exhibit 4 of the document shows that at the 0.05 level of significance the P value is 0.000 which is lower than the 5 percent significance level and provides the statistically significantly strong evidences to reject null hypothesis ultimately to accept the alternate hypothesis which states that the number of competitors, population, the indicator for open 24 hours or not, indicator for located in residential vs. industrial area, visible, 5 point rating on pedestrian foot traffic volume with 5 being the highest,fiscal Year 2000 Sales, manager skills, crew skills, and service quality predicts the financial performance of the sample stores. The correlation found between these two variables is 0.939 which also shows that the strong positive relationship exists between these variables.

Also, it has been concluded thatan increase in wages of the employees, implementation of the plan for giving bonuses to them and the enhancement of their training to the career development programs are not the wholly and solely factors to increase the tenure of the manager and tenure of the crew. Store 24 can increase employee tenure and its effectiveness by increasing their engagement and providing the learning and challenging situations.

Recommendations:

Employee retention has an impact on creating customer satisfaction and thus leading to profitability as the employees with more tenure are more likely to have great knowledge about the customer, process, and culture of the organization. In addition to this, not managing employee retention is a loss of productivity and customer satisfaction and thus profitability of the store.However, employee tenure and financial performance of the store are not linearly related and there are further more factors playing a role for a store to be a huge success in its financials.

It is recommended that customer satisfaction achieved by the employee is measured using customer feedback forms. Based on this evaluation, the employees should get bonuses and other incentives since high customer satisfaction leads to high profits.Also, other physical factors like the population density, competition, etc. are to be taken into account for an increase in the store financial performance.............................

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