1. Offer educational resources live and on demand
- In-person guidance and advice offered onsite helps ensure every employee has equal access to important planning conversations, guidance and advice.
- Interactive digital resources such as planning calculators, budget trackers, retirement income estimators, financial wellness assessments, and other resources allow employees to assess current status and model different scenarios and outcomes.
- Online articles and content including on-demand educational videos help participants understand relevant current issues, including how they can navigate uncertainties such as inflation, market volatility, and longevity risk.
2. Use automatic features — combined with education
- Automatic enrollment, where allowed by statute, for new hires can help your employees start saving for retirement as soon as possible.
- Couple this with automatic escalation so contributions increase over time.
- Consider pairing automatic features such as escalation and rebalancing with clear education to help achieve the best outcomes.
3. Have a simple enrollment process and targeted messaging
- A clear and informative participant website simplifies enrollment while delivering important educational and financial literacy content.
- Deliver timely content through multiple channels like email and online.
- Using participant data, customize communications to meet the needs of your various employee segments based on where they are in their retirement saving journey.
Make sure your plan provider has a robust, year-long communications strategy that drives employee action.
4. Provide access to financial professionals
- One-to-one counseling can help guide employees’ retirement planning choices and investment strategies.
- Eliminate barriers for not meeting with an advisor, like not knowing how to find one or feeling intimidated.
Action today can lead to great things tomorrow.
Action is everything.
Your retirement plan can help create a positive work environment that leads to improved recruitment and retention. For more information on how we can help drive plan engagement, reach out to your Corebridge Financial representative.
