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According to a report by the Society for HumanResource Management (SHRM), organizations with strong benefits programs see a 56% decrease in turnover compared to those without such offerings. A comprehensive benefits program can improve employee satisfaction and loyalty, reducing turnover rates. What are the 7 fringe benefits?
Employee benefits plans commonly include worker’s compensation and disabilityinsurance to ensure a sick or injured employee receives at least a portion of his regular pay until able to return to work. Organizations also frequently provide employees with free or low-cost life insurance.
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