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To combat high employee turnover, small businesses are taking steps to boost employee retention through benefits.
More than 163,000 U.S. businesses have closed since the beginning of the pandemic, according to the last Yelp Economic Average report. Over 1,000 small business owners revealed a 20% uptick in turnover rates over the past 12 months, according to a new survey from Principal Financial Group. Almost all believe the pandemic impacted the turnover.
Amanda Schiavo is an associate editor of Employee Benefit News. Follow her on Twitter at @SchiavoAmanda.
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Increasing leave in the U.S. and Canada aligns with the company’s focus on retention and internal promotion, said the head of people and culture for Lush North America.
By solving for the drivers of stress and overload, as well as supporting workers’ in daily areas like nutrition, employers can encourage a reversal of this damaging trend.
