In Tennessee, the probationary period
for new teachers is five years.
"Probationary periods can be excellent tools for determining an employee's cultural fit in the workplace."
Probationary periods can be especially beneficial for startups or small businesses, which have fewer resources to compensate for a bad hiring decision.
Some businesses have faith in their ability to hire and develop the right employees without relying on probationary periods. Others modify the process to fit their needs.
* Contracts are specified by ([t.sub.1], [t.sub.2], P), with [t.sub.1] denoting the date at which the insurance coverage starts (i.e., the end of the probationary period), and [t.sub.2] is the end of the coverage period; hence, it is assumed that the screening mechanism is restricted to time deductibles concentrated at the beginning and/or at the end of the contract.
We also argue that the conditions for a probationary period to be preferred over a limited term are fairly simple and intuitive.
Hence, the equilibrium concept requires that expected utility be maximized for both types (since, otherwise, another contract could attract consumers and make nonnegative profits), given the incentive compatibility constraints (ICH) and (ICL), the zero-profit constraint (BE), the requirement that the probationary period is nonnegative and less than n (TC1), the requirement that the limited term [t.sub.2] commences at a positive date that is less than n (TC2), and the requirement that short selling of insurance coverage is not allowed (TC3).
The average yearly retention rate from 1992 to 1997 stood at 82 percent, then rose in 1998 to 86 percent, a notable figure given the high numbers of new hires, especially women and minorities, who typically find it most difficult to complete their probationary periods.
One hundred percent of mentors believed the program helped their proteges assimilate into the department, acquire and enhance their skills, identify career goals, and successfully complete their probationary periods. Many mentors felt pride and a sense of accomplishment in assisting the protege's professional growth while enjoying the friendship the mentoring relationship provided.
At the same time, 89 percent of the proteges felt the program and their mentors helped them assimilate into the department, build knowledge and confidence, enhance and acquire skills, identify career goals, and successfully complete their probationary periods. They reported that the enjoyable, stress-free learning and problem-solving nature of the mentoring relationship proved the most beneficial in helping them achieve these goals.