Retirement Counseling
Labor costs increase with each financially stressed employee. Counseling concerning retirement savings can empower experienced employees to make informed decisions regarding their financial futures and pathways to retirement. Employers who take the steps to inform and educate employees through financial and non-financial retirement counseling programs are more likely to retain talent that is productive, engaged, and better suited to help the company achieve its overarching goals. Retirement planning also can identify potential labor needs and skill shortages and help your organization plan for succession.
Assess Retirement Counseling at Your Company
Take a Self-AssessmentAction Steps
29. Assess the level of financial literacy and retirement readiness among your employees.
Example: Engage employees in a personalized analysis of their financial strengths and weaknesses.
Resource: Financial Self-Assessment Tools
30. Offer a financial wellness program.
Example: Launch a workplace financial wellness program
Resource: Workplace Financial Wellness Resource Guide
Resource: List of Financial Education Providers
31. Offer counseling services that cover the non-financial aspects of transitioning into retirement.
Example: Connect employees with retirement resources, such as coaches, local senior centers, and online platforms.
Resource: Find a Retirement Coach by State
32. Encourage workers to actively engage in retirement planning.
Example: Promote and align the availability of retirement education and advice with the needs and preferences of employees.
Resource: Seven Ways Employers Can Do More to Help Workers Prepare for Retirement