sign saying awesome benefitsWhile offering a wide array of benefits is likely to reduceturnover, to make benefits affordable, employers need to find waysto contain costs-–without alienating employees.

Workers tend to stick around longer if their employer offers awide array of benefits. But the key is to provide the right kindsof benefits depending on the age make-up of the workforce,according to the Paycor report, “The HR Playbook: Reduce TurnoverWith Employee Benefits.”

Paycor examined its customer base of more than 30,000 medium andsmall businesses nationwide, and found that companies with sixbenefit plan types had a 138 percent decrease in employee turnoverversus those with no benefit plans. Plan types defined for theanalysis include medical, vision, dental, life and non-traditionalbenefits. The average turnover rate for organizations with nobenefit plans was 157 percent.

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Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.