Why Do We Need A Retirement Plan Anyway? #1: To Attract New Employees and Staff
Make it High Impact to get the biggest return on your organizational investment of time and money.
To the Point: To Attract new employees and staff
(There are two other reasons, watch for them)
First, it says that you care, and that you care about your staff just as you care about those you serve.
Second, you want to encourage them in their financial understanding and stewardship responsibility.
Third, those attracted to your mission/ministry are initially attracted by what you do and who you serve. After they dig deeper into what it means to "work for or join your organization" the financial components to the decision surface.
- How much will I be paid?
- How much do I have to raise?
- How is health care handled?
- Is there a Retirement plan and can I take it with me if I leave the organization?
It goes further; many churches will not provide financial support to an individual working for a Religious non-profit unless there is an “adequate” plan in place. “Adequate” is interpreted as meaning sufficient so that the person being supported can leave that support when they “retire”.
Research confirms that most workers in religious organizations will not retire from that organization, yet increasing numbers understand that saving for retirement is not a function of the employer only, but an important step they must take now and continue it through the job change process.
More “middle years” employees are retiring from their secular jobs and joining religious nonprofit teams. While they may have started their savings plan earlier, they need to finish it. Having a High Impact retirement plan in place provides the context for that part of their “finishing well” scenario.
To the Point: A retirement plan is necessary to Attract New Employees.
Please email me back with other reasons why a retirement plan is important to attract new staff/employees.
Sieze the Day!