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sign saying awesome benefits While offering a wide array of benefits is likely to reduce turnover, to make benefits affordable, employers need to find ways to contain costs-–without alienating employees.

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

Paycor examined its customer base of more than 30,000 medium and small businesses nationwide, and found that companies with six benefit plan types had a 138 percent decrease in employee turnover versus those with no benefit plans. Plan types defined for the analysis include medical, vision, dental, life and non-traditional benefits. The average turnover rate for organizations with no benefit 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.

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