Topic
THE STATE OF RETIREMENT SAVINGS AND PLANNING
Instructions
Write a short essay detailing the state of retirement savings and planning
Answer Preview
One of the significant impact the employer gain from contributing to retirement saving and planning is the ability to maintain the best employee in their corporate. The employer can also attract talented the most exceptional workforce that can work toward companies’ goals. According to SHRM’s (2016) report, more than 50% of employers provide workers with retirement benefits to recruit and retain human resources at different levels of their corporate.
The main impact of retirement saving and planning toward the employee is that it enables the worker to have savings that can be used after retirement. According to SHRM’s report (2016), many employed individual are unable to save toward retirement. Besides, 96% of employees had a challenge of saving by 2014 in the United States (SHRM’s. 2016). Therefore the retirement contribution developed by many companies is helping their human resource to collect and prepare themselves for their retirement.
The aspect of retirement has also benefited both employee and employer toward the context of productivity. Employees can work in a company without the fear of the future, thus improving their capacity when proving service toward the company (SHRM’s. 2016). The increased size of employee productivity has benefited the employer through the growth and expansion of the business.
Word Count: 1400