Getting from “Someday” to “Today” — Encouraging Younger Employees to Save for Retirement

<p>Long-term goal setting is tough for anyone but that&rsquo;s especially true for the youngest employees in our organizations. Reports vary on average savings rates for young employees &mdash; from 7% to 14% depending on your source &mdash; but the bigger picture is clear: by and large, Americans aren&rsquo;t on track to have sufficient savings when it&rsquo;s time to retire. Those who are best positioned to right their ships are our youngest employees &mdash; since they can benefit most from good old compound interest.</p> <p>So what can we do to encourage more of our young workers to participate in their 401(k)s? There are some key elements of the plan design &mdash; company match, speedy vesting, automatic enrollment, and enrollment incentives &mdash; that can help. But it is equally important to create a company culture that is focused on financial wellness. And communications play a large role in that.</p> <p><a href="https://medium.com/@OKeefeGroup/getting-from-someday-to-today-encouraging-younger-employees-to-save-for-retirement-4a5a77146873"><strong>Read More</strong></a></p>