Summary WK8 Assign HymanR extension .docx

WK8 Assign HymanR extension .docx The Problem Statement Human resource management, Walden University DDBA 8161: Business Strategy and Innovation for Competitive Advantage 14:08:09 GMT -05:00 Problem Statement The retail industry has shown a high rate of employee turnovers (Lee & Brookshire, 2017). In the last eight years, the retail industry has an immediate impact on the employee turnover 10% higher cost results in a pay increase ( Kuhn & Yu, 2021). The general business problem is that retail managers lack strategic implementation, resulting in low employee morale in the work environment. The specific business problem is that high employee turnover in the retail industry is based on managers not implementing performance strategies that foster employee engagement and motivation in the retail stores. 14:08:09 GMT -05:00 References Kuhn, P., & Yu, L. (2021). How costly is Turnover? Evidence from Retail. Journa