When it comes to planning for their retirement, how “in the know” are your employees? According to the American Benefits Council, more than 100 million Americans are contributing a combined $5.7 trillion in assets to 401(k) and other defined contribution plans and 97% of these plans use personalized communication to participants. Are your employees getting the message?
Soon-to-be retirees are a growing workplace population that’s known to sneak beneath the HR radar. As many companies tailor their retirement communications to recent grads and employees new to the world of payroll contributions, this subset is left wondering how to actually utilize their funds. It’s important not only to include them in retirement planning communications, but to craft the kind of messaging that helps them make confident, well-informed decisions about how to retire.
With more generations coexisting in the workplace than ever before, a pointed strategy for retirement benefit communication is an essential way to ensure informative enrollment and exit at every level. From recent grads carrying student loan debt to seasoned professionals about to sign out for good, a comprehensive communication tool provides a certain kind of inclusivity often overlooked by today’s HR teams.
