An Analysis of the Retention Effect of Using Lump Sum Payments for the U.S. Marine Corps Selective Reenlistment Bonus Program PDF Download
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Author: David L. Ross Publisher: ISBN: Category : Languages : en Pages : 82
Book Description
This thesis examines the estimated effects on enlisted retention in the Marine Corps of changing the Selective Reenlistment Bonus (SRB) payment method to lump sum. The thesis surveys the literature on personal discount rates (PDR) and on models of enlisted retention. The thesis analyzes the potential effect of the payment method on retention of Zone A eligible personnel using a range of PDRs and retention elasticities estimated by the Center for Naval Analyses. The NPV of a lump sum payment was compared to that of the current payment method using the actual SRB multiples for each USMC Occupational Field. The results indicate Zone A first-term Marine retention will increase between 6. 8 percent and 11.7 percent if the SRB payment were made in lump sum. The effect of switching to a lump sum payment was also analyzed using the Annualized Cost of Leaving (ACOL) model. The ACOL model estimates reinforced the estimates predicted by this thesis. Finally, a Monte Carlo simulation was run in Microsoft Excel to estimate the probabilities of attaining a given number of Marines across all Occupational Fields. The Monte Carlo simulation runs show an increased probability of obtaining a given number of first-term Marines by changing the SRB payment method to lump sum.
Author: David L. Ross Publisher: ISBN: Category : Languages : en Pages : 82
Book Description
This thesis examines the estimated effects on enlisted retention in the Marine Corps of changing the Selective Reenlistment Bonus (SRB) payment method to lump sum. The thesis surveys the literature on personal discount rates (PDR) and on models of enlisted retention. The thesis analyzes the potential effect of the payment method on retention of Zone A eligible personnel using a range of PDRs and retention elasticities estimated by the Center for Naval Analyses. The NPV of a lump sum payment was compared to that of the current payment method using the actual SRB multiples for each USMC Occupational Field. The results indicate Zone A first-term Marine retention will increase between 6. 8 percent and 11.7 percent if the SRB payment were made in lump sum. The effect of switching to a lump sum payment was also analyzed using the Annualized Cost of Leaving (ACOL) model. The ACOL model estimates reinforced the estimates predicted by this thesis. Finally, a Monte Carlo simulation was run in Microsoft Excel to estimate the probabilities of attaining a given number of Marines across all Occupational Fields. The Monte Carlo simulation runs show an increased probability of obtaining a given number of first-term Marines by changing the SRB payment method to lump sum.
Author: David L. Ross Publisher: ISBN: 9781423538820 Category : Languages : en Pages : 93
Book Description
This thesis examines the estimated effects on enlisted retention in the Marine Corps of changing the Selective Reenlistment Bonus (SRB) payment method to lump sum. The thesis surveys the literature on personal discount rates (PDR) and on models of enlisted retention. The thesis analyzes the potential effect of the payment method on retention of Zone A eligible personnel using a range of PDRs and retention elasticities estimated by the Center for Naval Analyses. The NPV of a lump sum payment was compared to that of the current payment method using the actual SRB multiples for each USMC Occupational Field. The results indicate Zone A first-term Marine retention will increase between 6. 8 percent and 11.7 percent if the SRB payment were made in lump sum. The effect of switching to a lump sum payment was also analyzed using the Annualized Cost of Leaving (ACOL) model. The ACOL model estimates reinforced the estimates predicted by this thesis. Finally, a Monte Carlo simulation was run in Microsoft Excel to estimate the probabilities of attaining a given number of Marines across all Occupational Fields. The Monte Carlo simulation runs show an increased probability of obtaining a given number of first-term Marines by changing the SRB payment method to lump sum.
Author: Robert W. Barry, Jr. Publisher: ISBN: 9781423523772 Category : Languages : en Pages : 126
Book Description
This thesis analyzes the effect of the United States Marine Corps instituting a lump sum Selective Reenlistment Bonus (SRB) Program on reenlistment decisions of first-term enlisted Marines, Between fiscal year 1982 and fiscal year 2000, Zone A reenlistees were paid 50 percent of their SRB on the date of reenlistment, and the remaining 50 percent was paid in annual installments over the reenlistment contract period. In fiscal year 2001, under the new program Marines received 100 percent of the SRB upon reenlisting The thesis surveys the literature on models of enlisted retention, The thesis empirically examines the impact of personal characteristics, civilian pay, unemployment, and the lump sum bonus on reenlistment decisions, Marine retention probabilities under the lump sum payment program are compared to the probabilities under the standard partial-annuity payment system The results show that the lump sum bonus is associated to a 5,8 percentage point increase in the reenlistment probability, A one-level increase in the SRB multiple during fiscal year 2001 is related to a reenlistment rate increase of 2,6 percentage points,
Author: Beth J. Asch Publisher: RAND Corporation ISBN: 9780833049667 Category : Business & Economics Languages : en Pages : 0
Book Description
"This monograph provides an empirical analysis of the enlistment, attrition, and reenlistment effects of bonuses, applying statistical models that control for such other factors as recruiting resources, in the case of enlistment and deployments in the case of reenlistment, and demographics. Enlistment and attrition models are estimated for the Army and our reenlistment model approach is twofold. The Army has greatly increased its use of reenlistment bonuses since FY 2004, and we begin by providing an in-depth history of the many changes in its reenlistment bonus program during this decade. We follow this with two independent analyses of the effect of bonuses on Army reenlistment. As we show, the results from the models are consistent, lending credence to the robustness of the estimates. One approach is extended to the Navy, the Marine Corps, and the Air Force, to obtain estimates of the effect of bonuses on reenlistment for all services. We also estimate an enlistment model for the Navy. The estimated models are used to address questions about the cost-effectiveness of bonuses and their effects in offsetting other factors that might adversely affect recruiting and retention, such as changes in the civilian economy and frequent deployments"--P. iii.
Author: James E. Parco Publisher: Enso Books ISBN: 1585662046 Category : Cultural pluralism Languages : en Pages : 557
Book Description
"Attitudes Aren't Free offers a framework for improving policy in the areas of religious expression, open homosexuality, race, gender, ethics, and other current issues affecting military members. Parco and Levy provide us with a unique and robust discussion of divisive topics that everyone thinks about serving our nation - in and out of uniform - becoeme intimately familiar with this book."--P. [4] of cover.
Author: Albert A. Robbert Publisher: ISBN: 9781977408600 Category : Business & Economics Languages : en Pages : 0
Book Description
Over the past ten years, maintenance career fields in the U.S. Air Force have been negatively affected by a series of events that have resulted in an experience shortage. Although there has been an improvement in Total Force manning since 2015, several skill levels are still experiencing shortages. To bridge the experience shortfall, the U.S. Government Accountability Office called for an Air Force retention strategy tailored to retain experienced maintainers. The RAND Corporation was asked to explore whether individual characteristics, economic and geographic factors, and the new Blended Retirement System (BRS) could provide additional insights into what predicts retention of this workforce. This report focuses primarily on aircraft maintenance career fields, with some attention to munitions and logistics career fields as resources permitted. The authors undertake two analytic approaches to examine the underlying determinants of retention. First, they use logistic regression to determine how strongly a variety of individual and environmental characteristics are associated with decisions to reenlist, extend an enlistment, or separate from the Air Force; second, they use RAND's Dynamic Retention Model to estimate how the new BRS will affect maintenance, munitions, and logistics career fields when those in the new system reach retention decision points. The authors find that changes in individual characteristics and environmental variables have improved retention in the maintenance, munitions, and logistics career fields. Although much of what influences retention is beyond the Air Force's control, the authors offer a number of recommendations and identify areas of emphasis that could be exploited.
Author: David L. Ross
Author: David L. Ross
Author: David L. Ross
Author: Robert W. Barry, Jr.
Author: Beth J. Asch
Author: United States. Congress. Senate. Committee on Armed Services
Author: United States. Congress. Senate. Committee on Armed Services
Author: James E. Parco
Author: Albert A. Robbert
Author: United States. Marine Corps
Author: United States. Marine Corps