Relationship between timing of multiple retention bonuses and the quality of officers retained on the cost savings for the Navy

Download
Author
Cassels, Marley E.
Date
2016-12Advisor
Myung, Noah
Second Reader
Gates, William
Metadata
Show full item recordAbstract
The surface warfare community has recently increased bonus amounts in an attempt to reward quality performance and retain superior officers. Simultaneously, the community has started to offer alternative programs and incentives that might appeal to those officers who desire a flexible career. We used survey information to determine which of these were the most appealing to the community in a way that might provide cost savings to the military when provided in conjunction with an auction bonus system. Using the standard bonus system compared to the uniform price auction, the Quality Adjusted Discount (QUAD) auction, and Combinatorial Retention Auction Mechanism (CRAM), we determined which would be most effective for maintaining quality officers in the community while meeting retention objectives and providing cost savings. We found that a quality auction system could provide cost savings as much as $1,850,000 or could increase costs by as much as $2,081,250, depending on community retention levels, even with increased individual bonus amounts. Additionally, from survey responses we were able to discern additional non-monetary incentives that surface warfare officers desire, which could be used to improve retention of quality officers in the future.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.Related items
Showing items related by title, author, creator and subject.
-
Application of a uniform price quality adjusted discount auction for assigning voluntary separation pay
Pearson, Quincy R. (Monterey, California. Naval Postgraduate School, 2011-03);This thesis examined the feasibility of using a quality adjusted auction for retaining quality officers while assigning voluntary separation pay to Marine officers. The study used survey data to set parameters for the ... -
Integrating monetary and non-monetary retention incentives for the U.S. Navy Dental Corps officers utilizing the Combinatorial Retention Auction Mechanism (CRAM)
Kumar, Sandeep (Monterey, California. Naval Postgraduate School, 2010-03);This research focused on the Navy Dental Corps community because of the retention challenges encountered, especially at the senior Lieutenant and Lieutenant Commander Ranks. The Dental Corps has retention goals by accession ... -
Application of a Uniform Price Quality Adjusted Discount Auction for Assigning Surface Warfare Officer Retention Bonuses
Nowell, Jason T. (Monterey, California. Naval Postgraduate School, 2012-03);This thesis analyzes the potential benefits of implementing a unique auction model that provides community and compensation managers with the ability to control for the quality and quantity of sailors retained. The study ...