Recent surveys show a strong financial wellness plan helps with worker retention
No pain, no gain—it’s a popular phrase in the world of physical fitness.
But financial wellness at work? Link Investment Management can minimize the pain, and leave your business with plenty to gain.
Recent employment industry surveys have reinforced the fact that companies with a strong financial wellness program enjoy a more motivated workforce. These surveys found that:
- Two of three of job seekers say a pension plan is important when considering a job offer.
- Three of four new hires are more likely to stay with a company offering a strong pension plan.
- A strong pension plan can reduce financial stress of plan participants.
“The reality is that any employer with a good financial wellness program reaps a wide array of rewards—greater employee productivity, performance and engagement, less employee turnover, and more powerful talent attraction,” says Brian McClennon, President and CEO of Link Investment Management.
For small to midsize businesses across Canada adopting a Link savings vehicle, like the defined contribution LINK Multi Employer Pension Plan, there’s another key advantage.
With Link as plan sponsor, we assume the administrative burden, with Link responsible for:
- Plan design and implementation
- Investment strategy and monitoring
- Governance, compliance, disclosure and fiduciary matters
- Plan communications with employees
- Service provider selection and oversight
Link’s savings vehicles are also advantageous for your workforce. Our fully digital platform means simple, straightforward onboarding. Individually tailored portfolios reflect an employee’s personal risk profile and investment objectives.
And, for a variety of reasons—including a passive investing model, the use of Exchange Traded Funds (ETFs), administrative sharing and asset pooling—Link has an overall lower fee structure. This is critically important, since fees have a profound effect on the final overall value of an investment portfolio.
“The Link process is simple and straightforward. We work with employers to figure out which plans best suit the needs of the business, while also meeting the needs of employees,” notes Mr. McClennon.
“If your business chooses a Link financial wellness solution, it’s good for you—and good for your people.”