“…Armknecht and Early [7], in their analysis of manufacturing quit rates, found that the level of earnings is the most important single factor affecting voluntary separation. Other studies have reached similar conclusions about the negative relationship between pay levels and turnover rates (Howell and Stewart[8], Fry [9], Price [3], Goodman et al [10], Porter and Steers [11], Williams et al [12], Price and Bluedorn [13], Nassar [14], Ferrey [15]). However, the findings of some recent studies appear to cast doubt on the idea of pay being that important.…”