Today, finding employees can be a challenge. The unemployment rate is low and many fewer people are actively looking for jobs. To obtain the best talent, employers need to offer the most comprehensive benefits. One of the most important to offer, even to young employees, is a 401k retirement plan. Today’s employees expect it.
Do Young Employees Really Want to Think About Retirement?
Today’s millennial generation knows the importance of financial planning, investing in their future, and living a high quality of life. As a result, they are interested in employee retirement planning tools like the 401k retirement plan. They understand the importance of investing at a young age so that they can have more of the funds they desire later in life.
Should Your Business Offer a Retirement Plan?
Providing employees with a 401k retirement plan simply makes sense. It offers you a tax incentive as the employer. It helps bring in more talent in a competitive marketplace. It is a simple but powerful benefit to offer. It does not need to cost the company must out of pocket to put this type of plan in place either. Most importantly, it has become very important to the future of your employees and their ability to live a quality life into retirement.
There are many advantages to employers and employees for having a 401k retirement plan in place. A short conversation with employees can help any company determine the value that this type of retirement account can offer to their bottom line. For many reasons, this could be one of the most important decisions a company makes today to assure their future ability to have a talented and skilled workforce. What’s more, it does not have to be a hassle to put this type of plan in place either.