OCR Bus: 3.5 Managing a Successful Business

What can focusing on employee retention lead to?

• Increased recruitment costs

• Cost savings and business continuity

• Decreased productivity

• Higher employee turnover

What can companies encourage employees to do by creating a positive work environment?

• Perform at their best

• Leave the company

• Reduce productivity

• Increase recruitment costs

How can business continuity be achieved?

• By frequently changing employees

• By having long-term employees familiar with the company's processes and culture

• By reducing employee training

• By increasing employee turnover

What does the uninterrupted flow of operations help achieve?

• Increased employee turnover

• Business continuity

• Increased recruitment costs

• Decreased employee satisfaction

What is the relationship between business continuity and long-term employees?

• Business continuity is achieved by frequently changing employees

• Business continuity is achieved by having long-term employees familiar with the company's processes and culture

• Business continuity is achieved by reducing employee training

• Business continuity is achieved by increasing employee turnover

Which of the following is an example of a financial method of motivation?

• Praise and recognition

• Offering competitive salaries

• Creating a positive working environment

• Implementing award schemes

What is the main purpose of implementing award schemes in motivating employees?

• To provide additional benefits beyond basic salary

• To recognize and praise employees for their achievements

• To create a positive working environment

• To distribute a portion of the company's profits among employees

What is one way that employee retention leads to increased efficiency?

• By constantly hiring new employees

• By having employees who are familiar with the company's operations

• By reducing the need for employee training

• By decreasing employee engagement

What is one benefit of motivated employees in terms of job satisfaction?

• They are more likely to leave the company

• They are more satisfied with their jobs

• They are less committed to the organization

• They are less likely to take on challenging projects

How can a marketing agency use award schemes to motivate employees?

• By reducing their workload

• By organizing an annual awards ceremony

• By providing free meals

• By offering gym memberships