Implementing a group retirement savings program as part of a total compensation strategy can help to reduce employee turnover. Now more than ever, top employers are being intentional about helping their employees plan for retirement to recruit and retain top talent.
No matter what the size of the group is, some plan sponsors may think offering a group retirement savings program can be challenging due to time constraints, lack of knowledge, and other financial commitments.
It’s important that small business owners recognize that the same rules apply to them:
- 70% of employees would like their employer to support financial well-being[1]
- 84% of employees would be interested in financial education programs offered through their workplace[1]
- 69% of individuals would choose a new job with a group savings plan instead of staying at their current job without one[2]
The benefits you already know:
Retirement savings programs are a cost-effective way for small business owners to support the financial well-being of their staff, and can lead to an increase in overall productivity. Outcomes include higher productivity, lower absenteeism, improved morale, and enhanced acceptance of benefits and retirement savings programs.[1]
If your client chooses to implement a group retirement savings program, it’s important that they promote financial literacy and financial well-being within their organization.
Five key takeaways:
We provide integrated administration services from a carefully selected and closely monitored leading provider.
Your clients will:
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- Have access to a simple, flexible, and easy-to-implement solution, overseen by your People Corporation partner
- Receive advice on plan design and personalized support throughout implementation
- Have access to a selection of funds based on expert advice, that are closely monitored to ensure that the investments are in line with market best practices
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Plan members will have access to financial education programs that address relevant topics of concern.
A partner you already trust:
Our unique solution is designed with the firm belief that all employees, regardless of organization size, should have access to a competitive workplace retirement savings program. People Corporation’s solution ensures you’re providing your clients and their employees with a value-added solution that includes financial wellness services and tools. Your clients will:
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- Save time and money on administration, implementation, and governance
- Benefit from our enhanced governance process
- Improve their ability to attract and retain top talent with value-added programs like retirement savings programs and financial education
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Our group retirement savings solutions allow you to create well-rounded plans for your clients. Contact your local partner today to get started.
