Reduced benefits from employers equals less employee loyalty

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Many employers are reducing benefits and require employees to pick up more of the tab. But what long-term impact does that have on their business?

The number of employers that expect you to pay 100% for benefits like long-term care, life insurance, dental care, and more is up by a third over the last 7 years.

It may not be news to you that employers are not offering generous benefits as they did 6 or 7 years ago. But the problem is the more you tell employees that you’re just renting them for a minute, the less and less loyalty you get from them.

When the job market does recover, turnover will be a real issue. Unfortunately, turnover can hurt business more than anything else that goes on in your four walls. Be careful how much you take advantage of your employees!

Clark Howard About the author:
Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to put more money in your pocket, with advice you can trust. More about Clark
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