Consultancies must be dynamic in their approach to retirement benefits as well as overall total rewards, or risk losing client loyalty through overreaching and/or under-delivering. (Photo: Shutterstock)
Retirement benefits are in a continual state of flux, with new challenges presenting every day in the form of new regulations, market volatility, and employee demand. Consequently, employers continue to search for new and innovative ways to remain on sound financial footing with retirement plans while still delighting existing employees and utilizing rewards as an attraction and retention tool.
Within the consulting landscape, specialization in specific retirement benefit service offerings still exists, but it is an uphill battle in the face of clients increasingly seeking holistic solutions, whether that is a DB and DC capability, DB/DC and financial well-being, or total rewards, which factors in a much wider variety of benefits and services geared toward improving the employee experience and perception of the companies for whom they work.
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