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 Solution

Alternate hypothesis:There is a significant relationship 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,manager skills, crew skills, and service quality &the financial performance of Store 24.

Interpretation

The regression analysis shows that the R-square is 63.7 percent, which means that the relationship between the dependent and independent variables is strong. Additionally, the regression analysis shows that the p value of management, crew tenure, population, competitors, 5 point rating on pedestrian foot traffic volume,indicator for located in residential vs. industrial area and the indicator for open 24 hours or not,is lower than the significance level of 5%, which provides statistically significantly strong evidences to reject the null hypothesis, which states that there is no significant relationship between the value drivers and the financial performance of Store 24. Only the p-value of the indicator for visibility of store front with 5 being the highest, is greater than the 5% significance level, hence indicating that there is not any-significant relationship between the visibility and the performance of Store 24.

Impact of crew and management tenure on financial performance of the most profitable stores

Research question:

How does the crew tenure impact the financial performance of the most profitable stores?

Hypothesis:

Null hypothesis:There is no significant relationship between the crew tenure and the financial performance of the most profitable stores.

Alternate hypothesis:There is a significant relationship between the crew tenure and the financial performance of the most profitable stores.

Interpretation

The regression analysis shows that the R-square is 10.3 percent, which means that the relationship between these two variables is weak positive. Additionally, the regression analysis shows that the p value of management tenure and crew tenure is greater than the significance level of 5%, which provides statistically and significantly strong evidences to not rejecting the null hypothesis, which states that there is no significant relationship between the crew tenure &the financial performance of the most profitable stores.

Impact of crew and management tenure on financial performance of the least profitable stores

Research question:

How does the crew tenure impact the financial performance of the least profitable stores?

Hypothesis:

Null hypothesis:There is no significant relationship between the crew tenure and the financial performance of the least-profitable stores.

Alternate hypothesis:There is a significant relationship between the crew tenure and the financial performance of the least-profitable stores.

Interpretation

The regression analysis shows that the R-square is 3.19 percent, which means that the relationship between these two variables is weak. Additionally, the regression analysis shows that the p value of management tenure and crew tenure is greater than the significance level of 5%, which provides statistically and significantly strong evidences to not reject the null hypothesis, which states that there is no significant relationship between the crew tenure &the financial performance of the most profitable stores. Thus, the analysis shows that the employee tenure doesn’t have effect on most and least financial performance of Store 24.

Recommendation

The retention of employees is of high importance for long-term growth and sustainability of the business. In case of Store 24; the quantitative analysis shows that the employee tenure plays an effective role in the business’s success, but it is not the only effective factor to lead the higher business performance. To retain the employees; the company needs to increase wages, implement the bonus system and institute the training & career development program. Furthermore, the company could increase the employee tenure and effectiveness by providing the challenging&learning situations as well as increasing the employees’ engagement.

Moreover, the company needs to take under consideration the various other drivers of growth of business, such as:competition, population density, pedestrian foot traffic volume and so forth, in order to improve the store’s financial performance....................

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Store 24 (A): Managing Employee Retention Harvard Case Solution & Analysis