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According to Morgan Stanley at Work’s September Plan Sponsor Research Results, plan design is a fast-rising differentiator that’s driving employee enrollment and supporting talent strategy in many companies.
401(k) plans remain a strong essential workplace benefit, as you well know. As plan sponsors see other benefits evolving to meet the more complex scenarios presented by the changing economic climate, they are emphasizing the need for a competitive plan with a range of features to meet the evolving financial needs of a diverse workforce.
So what exactly does that look like? What range of features can make your 401(k) plan stand out among other retirement benefits that might entice your top talent to stick around?
Morgan Stanley at Work’s full Plan Sponsor Research Results 2022 is chock full of insightful charts and data that can give you more ideas on how your plan design can boost your attraction and retention rates.
We’d love to hear how you’re feeling about your plan design and how we can work together to make it a stellar part of your talent strategy.
To speak to one of our dedicated specialists, click here.
Sources:
https://www.morganstanley.com/content/dam/msdotcom/atwork/pdfs/plan-sponsor-research-results.pdf