Best Practices

From the era of guaranteed lifetime pensions to the modern 401(k), pension risk transfers have become the linchpin connecting the past, present and future of retirement benefits – and allows firms to offload the burdensome legacy.

Drip marketing works. That's why employers need to continually show employees more and more reasons why they should save for retirement, using a variety of signs, email campaigns and text messaging.

The idea of retiring on $100,000 a year should get employees' attention and can be a good lead-in to financial wellness training sessions on two of the "building blocks" of retirement – Social Security and investing in 401(k)s.

Employers who don't get on board are going to lose out on top talent and productivity gains.

Financial wellness has emerged as a game-changer – and the new retirement legislation is making new employer offerings, such as student debt relief or emergency savings funds, more cost-effective than ever to implement.

As CEO of Cost Plus Drug Co., Mark Cuban is telling other CEOs: "If the big 3 PBMs, which also own the insurance companies, lose 5 of the top 15 non-PBM Fortune 50 companies, their business practices are going to change."

HR leaders must remain vigilant in identifying strategic opportunities and new ways of helping to mitigate remote- and hybrid-induced impediments to conducive connection.

Unleashing the true power of a team requires adopting a robust process orientation, the key to which involves going beyond visible behaviors to uncover hidden team dynamics.