Survey: Retirement Benefits and Worker Retention Linked - napa-net.org
It’s no secret that traditional defined benefit plans are largely a thing of the past and that individual wealth-building poses significant challenges for many future retirees. With this as a backdrop, it’s no wonder that the results of a Prudential 2026 Benefits & Beyond survey of over 3,000 full-time U.S. employees and 760 employers concluded that personalized retirement planning is a key factor in the decision to remain with an employer.
The Prudential survey found that “… employees increasingly expect a more personalized approach to benefit offerings that help address everyday challenges.” Translated, that means a one-size-fits-all approach to benefit packages does not meet the variable interests of a wide range of demographics, with needs and interests varying based on where individual workers are in their career spectrum. Gen Xers and Boomers, for example, value increased retirement savings matches or contributions more than Millennials and Gen Z, suggesting that the decision to remain with a particular employer is directly relevant to benefit package design.
For further discussion on the Prudential survey results, check out the National Association of Plan Advisors summary article here. Also, for Prudential’s white paper on the issue titled “Executive Insights” click here.