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Employers are increasingly demonstrating their concern over the financial health of their employees, expanding efforts on how they show that loyalty writes Mark Avallone for Forbes.
Efforts include retirement and health benefits, as well as on-site day care, flexible hours, after school care and “the ability to work remotely,” he writes.
“Some companies also provide on-site amenities such as workout facilities and yoga classes while others reimburse health club dues, and employ nutritionists and personal trainers,” continues Avallone.
Retirement planning is a key part of these loyalty efforts. Data shows that in 2016, 66 per cent of American employees had access to a retirement plan, either through a defined benefit pension or defined contribution savings scheme.
Employers are embracing the ability to automatically enrol workers in retirement plans, he adds.
More: Financial education alone will not solve the retirement savings problem.
ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca
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