Our Approach

Wealth

Most employees aren’t saving enough for retirement. In some cases, this is because complex decisions are involved and employees don’t have access to the information they need.

Effective wealth accumulation programs not only enhance an employer’s recruitment and retention, they also impact an employee’s ability to exit the workforce when it comes time for retirement.

Consumerism 360° focuses on the need to support employees with education and modeling tools that help employees make informed wealth accumulation decisions, regardless of the plan design in place.

Applying the Three I’s

By helping employees understand their retirement savings situation, applying incentives that change employee savings behavior, and using modeling tools to help keep them on track, employees can begin to increase their retirement savings. Below are examples of ways the Three I’s can be applied to the Wealth component of Consumerism 360°.

Information

• Financial education
• Total Rewards statements
• Modeling

Incentives

• Employer matching contributions
• Time off for financial education activities

Infrastructure

• Automatic enrollment, contributions, investments
• Baseline defined benefit or defined contribution benefit
• Retirement planning tools

Watch the fourth podcast in our series, Engaging Employees in Wealth Decisions.

Want to know where your company’s current Wealth programs fall on the consumerism spectrum? Take our complimentary BCI® Express – Wealth survey and find out!