What to tell jittery employees about the sluggish economy’s effect on their 401(k) plans
More than 18 months into the economic downturn and employees are still worried about their jobs, salaries and benefits.
Those worries have prompted many companies to sit down and discuss finances with employees, says a recent Charles Schwab Corp. survey.
The lucky ones who have remained employed during this recession have probably endured dramatic losses in their 401(k) plan accounts over the last 12 months, sparking anxiety and fear for many employees, especially those nearing retirement.
However, glimmers of hope—not matter how faint—have emerged in some parts of the economy, which might have some employees wondering how they should manage and invest 401(k) accounts to their advantage.
This mix of fear and curiosity creates an opportunity for communicators and HR professionals to work together to create strong and accurate messages to calm and instruct jittery employees about benefits and to show executives the value of strong communication during a recession.