While benefits are certainly an important part of the retention equation, the ability to effectively communicate the value of those benefits has a direct impact on your bottom line. Recent estimates indicate that the high turnover rate in the retail sector translates into more than 230 million days of lost productivity and $19 billion in costs associated with recruiting, hiring and training.

Everyone wants an “easy button,” especially retailers. To help your employees fully understand and appreciate their benefits, it helps to have a real-time total rewards solution—a program that provides each employee with a complete view of their entire benefits and compensation package with just a few taps on their cell phone.

This is especially important in the retail industry, where few employees have access to a computer at work or the flexibility throughout their day to check their compensation.