Implementing Retirement Plans for Staff
Add value to your business with an employee retirement plan.
When Gini Dietrich hunts talent for her 15-person Chicago PR company, she can tell candidates they'll be fully vested in the company's 401(k) retirement plan after a year. "It really allows me, as a small-business [owner], to compete with the big PR firms," Dietrich, 33, says of her employee retirement plan.
Having any retirement plan places Arment Dietrich Inc. among a small and shrinking minority of entrepreneurs. A 2005 Union Bank of California study of its small-business customers found that 75 percent offered no retirement benefits. Plus, the number of companies with less than $1 million in annual sales that had no retirement plan grew by 6 percent over the previous year.
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
-
How Millionaires Prepare for a Recession, According to a Former Wall Street Trader
-
5 Self-Care Habits of Every Successful Entrepreneur
-
Listen Closely to What People Ask You. That's Where to Find Your Hidden Power.
-
Gen Z Customers Want More. This 3-Step Strategy Will Help Your Company Give It to Them.
-
This Founder Was Madly Pulling a Pandemic Pivot When...the FBI Showed Up at Her Door With Guns, Seized Her Money and Told Her Husband He Was the Target of a Criminal Investigation
-
Take Customer Service to the Next Level With These Service-Based Franchises
-
Define Your Short-Term Goals With These 3 Components for Long-Term Success