Why Your Company Should Include An Annuity As An Employee Benefit

large_2959833537Hiring managers and benefits administrators often times run into the problem of predicting whether or not an employee is ready to retire.  Some companies, according to HR Magazine, are trying to make it easier to predict when an employee is going to retire by adding in the benefit of an annuity to the company’s 401(k) plan offering.  After reading this blog, you will understand the benefits of including an annuity as part of your company benefits.

Being able to predict when an employee is going to retire is important to your entire HR team.  It is also important to the rest of your staff.  Often times, employees of retirement age fill the higher positions within your company that younger employees aspire to grow in to.  However, when finances and retirement income are unclear, it can create a “frozen” work environment, which isn’t good for anyone. 

401(k) plans have been the traditional savings vehicle for retirement, however the Great Recession may have put many employee’s retirement plans on hold.  401(k) plans are great for those who have many more years to save and not a lot to lose, but when you’re looking for something a little more stable, it might be nice to have a stable option in which to transfer those funds.  Annuities aren’t as aggressive as a 401(k), but they are much more stable.  Offering an annuity option for your employees can help them better understand their retirement finances and feel more confident in their plan to retire with a stable income stream as they make their exit into their non-earning years.  When employees know when they can retire, you can better predict when a position is going to be opened, and your younger employees can easily set goals on growing within your company.

Do you have employees that are at retirement age?  Even if you have internal employees that are eager to fill those spots, you’ll still need to do some hiring to fill the positions of your advancing employees.  Contact Serenity Staffing to bring some serenity into the task of finding the perfect fit for your company.  We’ll pre-screen candidates, coordinate interview schedules, and correspond with candidates on whether or not they are a good fit with your company.  All you have to worry about is meeting the perfect addition to your team!  Connect with us on Facebook and LinkedIn to be updated on our weekly blog updates that focus on important trends and tips on the field of HR!