401(k)’s vs. Employee Retention

employers originals Jun 09, 2021

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

 Did you know that only 38% of all employees who are offered a 401(k) choose to contribute, and that number drops to below 30% when segmenting millennials only?



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.



Photo by Marc Mueller from Pexels

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.

Are you ready to elevate your employee retention stats with The NetWellth Strategy? Let's connect and explore how our transformative approach can help you keep your top talent.

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