When participation is low, it’s easy to assume employees aren’t interested. But the real reasons are often deeper and more fixable.
Welcome to 401(k)ompass, a series of two-minute videos to help you manage your 401(k) more effectively by addressing current issues and challenges.
In this episode, Renn Williams outlines three key barriers to participation and how plan sponsors can address them directly.
- Living Paycheck to Paycheck: Employees struggling to make ends meet aren’t thinking long term. Building participation starts by supporting financial basics so that saving for retirement feels possible.
- Lack of Financial Education: Confusion leads to inaction. When employees don’t understand what the plan offers or why it matters, they’re unlikely to engage.
- Missed Opportunities in Plan Design: With a proven track record, automatic enrollment and automatic escalation can dramatically increase participation with minimal friction.
There are several other ways Renn shares to boost engagement, so watch the full video to hear more on what works and why.
