Choose a company of which you are familiar with the culture and workplace policies. Perhaps this is a company that you have worked in or currently work in. The chief people office (CPO) at this company is aware that you are learning concepts of behavioral economics. She is concerned about trends in a tight labor market and would like to increase employee retention. She is asking you to outline one company policy/practice/benefit recommendation that relies on a tenet(s) of behavioral economics and will be reasonably cost-effective to implement. In other words, the savings in employee turnover reduction should more than pay for your recommended policy/practice/benefit. The CPO is a busy person and wants your recommendation to be fewer than 500 words. Addressed to the CPO as an internal memo, your paper should include the following components:
• Name of company, number of employees, industry (for the instructor’s benefit)
• Identify the relevant current policy/practice/benefit (if you are recommending a policy/practice/benefit change)
• The tenet(s) of behavioral economics that you are relying upon
• Link between your proposal and expected increase in employee retention
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