Return to Industry Articles
Offering Aggressive Retirement Plans Can Attract Top Candidates
As a leading national recruiter
to the insurance agency/brokerage industry we are seeing more and more
competing job offers to highly qualified candidates. Many times the offers are
exactly the same with regards to salary, health benefits, life and disability
insurance and vacation. An area that many times is overlooked especially by
young professionals is the retirement plan.
Offering an aggressive match to
the employee’s 401(k) plan could sway an employee to consider your company over
another. As an employer you should point
out the financial benefits of your retirement plan. Show the potential employee
the benefits by doing the math and pointing out the potential income over the
next 15 years.
The average 401(k) match in
America is a little more than 2.5%. Some companies choose to aggressively
contribute money to their employee’s retirement goals while others set up more
moderate deferrals. Some companies don’t stop with 401(k) plans they include
profit—sharing plans, stock- purchase plan and other financial benefits.
With the unemployment rate in the
insurance industry being at an all-time low employers need to be competitive
and creative with their job offers. Consider your retirement plans to
attractive the best candidates.