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Insurance industry can retain workers with rewards [VIDEO]

While a new report has found that the insurance industry in the U.S. is on the rebound following the economic downturn, the same report noted that companies are also in danger of losing workers if they don't have a retention strategy in place.

While a new report has found that the insurance industry in the U.S. is on the rebound following the economic downturn, the same report noted that companies are also in danger of losing workers if they don't have a retention strategy in place.

According to the Annual Market and Financial Outlook Survey by MarshBerry, 63 percent of respondents said they expected to increase their headcounts next year.

But hiring and retaining new help can be costly. MarshBerry noted that organizations have to find ways to reduce turnover, by providing performance evaluations, as well as regularly praising good efforts and positive feedback.

One way that insurance companies can do this is to implement a points-based rewards program that gives workers a variety of rewards to choose from such as gift cards or tickets to a sporting event. 

Recognizing employees with customized rewards is a great way to let them know they are a value to any organization.

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