401(k)’s vs. Employee Retention

Aren’t 401(k)’s supposed to help companies retain employees?

Why don’t employees contribute, especially when there’s a match??

Check out this article to learn why...

There’s a popular term being thrown around, “employee engagement”.

We’ve seen it mean everything from having sleeping pods in the office to software platforms that connect management to their employees.

Well, just so we’re clear:

A recent Gallop poll shows that almost 70% of America’s workforce is disengaged AND would leave for AS LITTLE AS a 5% pay increase.

What percentage of your employees do you think would consider leaving your company for a 5 or 6% pay increase?

Multiply the number of employees with your employee replacement costs (lost revenue+scouting+interviewing+onboarding+training+ramping up).

# ee’s X $ = $$$$$$$

 

 

At NetWellth, we define “employee engagement” as influencing employees to want to stay at your organization without having to increase their compensation.