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Retailers can leverage benefits to boost retention rates. But this only works if your employees have a clear picture of all the benefits you provide. They can’t appreciate what they can’t see.

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.

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