Women's Retirement Security Day

Today is Women’s Retirement Security Day, dedicated to improving retirement outcomes for women.  For various reasons, women’s median 401k is reported as significantly lower than men’s as women contribute less to retirement accounts.

There are plenty of reasons, including the gender pay gap, more time away from work over the career span, longer life expectancy, along with other factors.

So what does this mean for you and your staff?

Concern over personal, parental and offspring finances can and do affect the workplace.  Have you provided resources for staff to help understand options or provide financial based training to teach staff how to better prepare for the future?  Do you offer retirement savings and, if so, do you provide any sort of match?

Have any of your staff or their spouses needed to step away from work to care for a loved one?  Do you have any resources they can utilize to provide encouragement? When staff go through major life events (wedding, birth, adoption, divorce, death) do you have tools that provide to educate or support? What are things you’re doing for yourself in your life and can they be introduced to your employees?

Having brainstorming meetings for staff to discuss financial options and opportunities may be a way to help.  Asking individuals to volunteer their stories can provide meaningful and realistic examples.  Additionally, the American Retirement Association has a wealth of tools and suggestions you can utilize.

During Women’s Retirement Security Day and throughout the year, provide education and support to your employees to help them secure their future. Feeling confident in their financial picture can help staff be more productive and it’s the right thing to do.

#positivity #management #hrconsultant #womensretirementsecurityday

Most of us would love to retire at some point in the style we choose, but not everyone can. Consider how you can help staff with that goal.