Title of Abstract
Poster Number
122
Session Title
Wages and Economics
College
College of Business Administration
Department
Accounting, Finance & Economics
Faculty Mentor
Louis Pantuosco, Ph.D.
Abstract
Over the last few decades, the turnover rates for employees of Fortune 500 companies have continued to rise. As this rate continues to get higher, companies begin to lose efficiency, as they have to devote more time to training new employees and less time toward production. My research project involves looking at the effects of Corporate Social Responsibility programs and wages on turnover rates for Fortune 500 companies, in order to assess whether investing in CSR programs or raising wages will better help address the turnover issue. To determine the effect of CSR investing, I will compare the median tenure of employees in Fortune 500 companies versus their CSR score to determine a correlation coefficient between tenure and CSR score. I will then use the same process to determine the effects of wages on job satisfaction, swapping CSR scores for median pay within the same companies. Once I am able to isolate the effects of CSR scores and wages on median employee tenure, I will be able to perform a cost-benefit analysis to determine whether it would be more efficient for these companies to invest in CSR programs or raise median pay to increase median tenure and reduce employee turnover. From this analysis, conclusions will be drawn about how a Fortune 500 company should invest capital should it wish to reduce turnover in an effort to increase productivity and efficiency.
Course Assignment
ECON 345 – Pantuosco
Start Date
24-4-2020 12:00 AM
Included in
Determining the Effects of Corporate Social Responsibility Programs and Wages on Turnover Rates for Fortune 500 Companies
Over the last few decades, the turnover rates for employees of Fortune 500 companies have continued to rise. As this rate continues to get higher, companies begin to lose efficiency, as they have to devote more time to training new employees and less time toward production. My research project involves looking at the effects of Corporate Social Responsibility programs and wages on turnover rates for Fortune 500 companies, in order to assess whether investing in CSR programs or raising wages will better help address the turnover issue. To determine the effect of CSR investing, I will compare the median tenure of employees in Fortune 500 companies versus their CSR score to determine a correlation coefficient between tenure and CSR score. I will then use the same process to determine the effects of wages on job satisfaction, swapping CSR scores for median pay within the same companies. Once I am able to isolate the effects of CSR scores and wages on median employee tenure, I will be able to perform a cost-benefit analysis to determine whether it would be more efficient for these companies to invest in CSR programs or raise median pay to increase median tenure and reduce employee turnover. From this analysis, conclusions will be drawn about how a Fortune 500 company should invest capital should it wish to reduce turnover in an effort to increase productivity and efficiency.
