Does Your Company Retirement Plan Attract the Best Employees?
Category : Retirement
Job seekers are always on the prowl for employers that offer not only a good salary package, but also an attractive range of fringe benefits. Among the employee benefits that tend to appeal to the majority of job seekers are health insurance, stock options and company sponsored retirement plans. Retirement plans may be particularly attractive because at the back of every job seeker’s mind, is the dream of eventually enjoying a comfortable life after a successful career. The idea of working for an organization that offers the best retirement plan can be a deal breaker for the discerning job-seeker.
As a small or medium-sized business, you may have trouble attracting the right talent because your business may not be able to offer competitive monetary compensation. However, you could still woo the best talent by offering an attractively packaged company sponsored retirement plan. Tax Deferred options may help employees reduce their tax liabilities and an after tax plan option may work for others. A Roth 401(k), Roth IRA, or Insurance Contract may be ideal for your company. These allow employees to accumulate retirement savings and not have to worry about taxes being deducted when withdrawals are made during retirement years. In addition, employees may withdraw funds penalty-free at any time. This feature may be appealing to job-seekers since it gives them the opportunity to access cash if they ever find themselves in an emergency or in need of a lump sum for making a down payment on a home or paying for their children’s college. As an employer, you can attract the best talent simply by offering the right retirement plan package.