December 2015 HRO Today, pages 68-69 | Paul Herman, Joy Pettirossi Poland
Integrating Purpose and Profit, Strategies to Encourage Millennials to Invest in Company 401(k) Plans
What are the secrets to higher employee engagement, especially for Millennials and Generation X-ers?
“Millennials want more from business than might have been the case 50, 20, or even 10 years ago,” says CEO of consulting firm Deloitte Global, Barry Salzberg. Integrating purpose with profit is a “different and better way of operating in the 21st century” that is essential to Millennials.
The majority of organizations offer a 401(k) program to their employees. While 87 percent of 88 million people with access to a plan save an average of 6.8 percent of their pay, and employers who match contribute another 4.5 percent find the American Benefit Council, most Millennials do not contribute to their 401(k) plan. According to Scottrade, the national average for 401(k) participation among Millennials is 21 percent.”
Read the full article HERE on pages 68-69.