Knowledge to Make Informed Decisions
An employer sponsored retirement plan is the principal saving mechanism for America’s workers. These benefit plans present tremendous opportunity to prepare employees for a secure financial future. As with many rewarding opportunities, there comes the task of creating awareness and support from those who need it most. The retirement landscape has evolved over the years, most notably, with the reduction in pension benefits, the uncertainty of Social Security and the increase in health care costs. Employees need support more than ever to overcome inertia and build better financial behaviors.
Employee education and engagement is critical to successful outcomes (i.e. overcoming inertia) because many employees admit they are not doing enough to save for retirement and are not sure what to do and how to prepare.
We believe in building a communication strategy that is easy to understand but also resonates with the audience. Our goal is for them to take action and improve awareness of the following:
- How the retirement plan works (features and benefits)
- Importance of saving early
- How to choose investment options
- Save more to meet their future retirement need
- Living within their means
- Building a diversified and appropriate portfolio
- Resources and tools available from their plan provider
Increasing employee engagement will increase productivity and loyalty.
There needs to be a strong focus on clearly communicating benefits and employer efforts to improve the well-being of their employees.
If your engagement strategy needs to be rejuvenated, call Lawley Retirement Advisors, we are here to help.
