Why does employee engagement matter?

How can financial advisors and plan sponsors increase retirement employee engagement and why does it matter? If you look at almost any survey today, it’s apparent that most are still not saving enough for retirement. For example, according to a 2020 Employee Financial Wellness Survey by iGrad/Wellable, one-third of employees nearing retirement feel they don’t have enough saved to retire. And when workers delay retirement because they can’t afford it, it can get expensive for employers. PwC’s 2020 Employee Financial Wellness Survey found that delayed retirements can increase annual operating costs by 1 to 1.5 percent. That’s due to more paid sick leave and vacation days, along with higher life, disability and health insurance costs.

In addition, financial stress in the workplace continues to create challenges for both employees and employers. According to the 2020 Willis Towers Watson Defined Contribution Plan Sponsor Survey, the financial wellbeing of their employees, and the potential impacts on their organizations, is a top concern for many sponsors. Just over 33% indicated financial stress among workers was creating current workforce challenges — an increase from 26% in their 2017 survey.

Trust the Kmotion—premiere retirement employee engagement experts—to help

At Kmotion, achieving financial wellness and retirement readiness goes hand-in-hand. We believe that when you empower employees to improve their overall financial wellness, you pave the way to increasing participant engagement. And when employees are engaged with their retirement plan you’ve helped put them on a solid path to achieving positive retirement outcomes. Kmotion creates communication and education materials that will give employees the essential information that they need, inspire them to reflect on their own personal situation, and motivate them to take positive steps toward reaching all their financial goals – including retirement.

We also understand that our advisor and plan sponsor clients are dealing with varied and complex business challenges every day. That’s why we continually strive to make it as simple and easy as possible for you to work with us. When you partner with Kmotion, you can rest assured that all project pricing will be fair and transparent, and that communication on each project will be proactive and consistent. Your complete satisfaction with our work is our number one priority.