"Nudging" Your Employees Toward a Better Future

"Nudging" Your Employees Toward a Better Future

The unfortunate fact is that, nationally, some 30% of employees eligible to participate in a 401(k) retirement plan do not take advantage of this opportunity. Employer and all managers have a special responsibility to promote the welfare of their employees. So how can we encourage employees to participate in this plan that is so obviously a major benefit to them? In the past, we have encouraged managers at all levels to use the “bully pulpit” of their position and their leadership and persuasion skills to encourage their employees to join the plan. Many managers have done this to great effect, but still participation rates are not what they could be.

Members may read full article, please login