401(k) Benefits, Employee Retention and the Newcleus Difference

Companies that retain their top talent understand their employees value more than just their job. Every day they deal with a multitude of financial challenges, from trying to purchase a home, paying off their student loans, or the fear of inadequate retirement savings. 

These concerns effect the top members of your team; people it would hurt to lose. What can you do to retain them and show them that you care?

The right 401(k) benefits plan can help you attract and retain top talent with differences they can see.

 

Compensation by generation

Your team is made up of varying generations. From the reliable and committed Baby Boomer who is engaged in planning their retirement to the fresh-faced and eager GenZ who is just getting started. The plans should reflect where employees are in life and account for their goals.

For example, a younger employee may need more ‘hand-holding’ when discussing retirement versus a senior employee who might benefit from an account review to ensure they’re optimizing their plan. 

With such a wide generational gap, compensation packages and retirement benefits need to be flexible and practical.

The Newcleus difference

Not only will our advisors help structure the 401(k) plan for your company, but they will take into consideration the demographics of your employees, including where they are in life.

 

The opportunity to learn

Give your employees the opportunity to learn how to invest their hard-earned money the right way. How many times have you heard “Oh, I’ve just put money into Robinhood” or, “My friend told me to invest in XYZ”?

People make investment decisions that aren’t always right for them. Instead, putting their money into what is hot right now.

Don’t let your employees miss a big opportunity that will impact their retirement. 

How can you educate employees on how to customize retirement plans and help them understand pre- and post-tax savings options?

The Newcleus difference

Newcleus will explain to employees (from leadership to staff) their plan features. For example, how pre-tax savings and matching company funds will multiply 401(k) retirement savings, and how withdrawing their money pre-tax almost leaves their take-home pay untouched. 

For executives, a 401(k) can be included in an overall compensation plan, taking advantage of matching company funds.

 

Retain your best by showing them you care

As employers, it’s easy to forget that customers aren’t the only ones who review your business. These days, one of the first things that employees do after leaving a company is to write their own review of their experience working for you. 

Oftentimes, they aren’t just talking about the job itself, they’re also talking about the benefits offered. This is where potential applicants go to see previous employees’ experiences before submitting their applications. 

Make the best impression by making one simple change to your benefits.

The Newcleus difference

Because we actively help employees have a reliable plan for retirement savings, we help increase the participation rate and lower your costs. Here are some of the ways that we can help you show you care: 

 

– Develop a plan for how employees can invest via mutual funds, company stock, ETFs and more.

– Educate your employees about how to select investments and customize their retirement plans.

– Help employees understand pre- and post-tax savings options.

– Leverage the opportunity for one-on-one meetings.

 

Newcleus: The key to retaining your top talent

If you’re looking for a better 401(k) plan for your employees and your organization, Newcleus Retirement Advisors is the answer. We act as fiduciary and plan managers, guiding company leadership in creating a custom plan that benefits their employees.

Newcleus will manage and revise current plans, ensuring that all regulatory reporting and required auditing are completed. Here’s what you can expect when you get started with us:

• We advise, consult and monitor to create a plan that is a living document
• Meet one-on-one with the investment team
• Ensure understanding of fiduciary guidelines
• Offer flexible retirement benefits to your workforce
• Evaluate investments and portfolio managers
• Conduct peer group evaluations

 

It’s time to attract and retain top talent. Learn more about our Qualified Plan Advisors here.