Alternatives to the Traditional 401(k) Match Can Meet Longer-Term Objectives for Attracting and Retaining Talent

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Companies looking ahead to how they will restructure their reward programs in a recovering economy will no doubt be asking some tough questions about their
401(k) plans.

Those organizations that suspended their matching contributions at the height of the financial crisis will face a choice as their business recovers. One option is simply to restore the matches and go back to business as usual. The other option is more challenging but also more intriguing — reengineer their strategies to make their employees’ retirement objectives more achievable, focus more on health care needs, and attract and retain the best people.