How Does 401K Make Your Business More Appealing to Employees?

Is a 401k plan really an attractive benefit for my prospective employees? Are there any other benefits I can offer that will help me find and retain the best talent in the market in a better way? Antonio D. Mercer, Martin, SD, runs a graphics firm

Experts say that most prospective employees consider an employer sponsored 401k retirement benefit plan one of the most attractive features when they are assessing employment offers. Other than health benefits offered by the firm, there is perhaps no better benefit you can offer that makes you a more sought after employer.

A 401k plan tells a prospective employee that you are a responsible and empathetic employer. The fact that you are encouraging them to save for future does a great job in boosting employee morale. Of course, this shows in your increased productivity levels too. If you have an employee contribution match option with your 401k plan, then the employee is sure to count this point as a real big plus in your favor. After all, any contribution match that you make into his account is free money where he is concerned. The tax advantage that the employee gets results in actual savings for the employee paycheck after paycheck.

Post recession, many small businesses that previously had no such programs, realized the importance of offering a safe and easy retirement benefit plan. If you are keen on adding such a plan to your business, the process is quite simple with the many ready to use 401k software suites available today. Check out the various options you have on, where you will find a listing of the top rated 401k suites in the market today. These suites make set up, administration and updating of these plans simple and quick so that you just need to invest a few minutes each month to keep the plan going.

About Elliot Earl, Director, Pension Trade Association
Director, Pension Trade Association Founded in 1982, the Pension Trade Association [California Domestic Nonprofit Corporation #C1629080] is dedicated to helping workers save for their retirement through expanded coverage of 401k -type defined contribution pension plans.

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