HUMAN RESOURCES

Benchmark: Communicating 401(k) Information

Graphs displaying information on how various small businesses communicate 401(k) information to employees.
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You can increase employee participation in your 401(k) plan if you beef up your communication program, says a recent survey of nearly 900 plan sponsors, 40% of which had fewer than 500 employees. Here's how use of the most popular methods broke down:

Percentage that Percentage that

Communication method use method rely on method

Word of mouth 100% 24%

Enrollment brochures/plan descriptions 98% 81%

Newsletters/benefits brochures 86% 62%

Meetings/surveys 85% 43%

Company's general-information materials 80% 50%

Personalized statements/illustrations 76% 55%

One-on-one counseling 72% 30%

Audiovisual presentations 67% 24%

Payroll stuffers/posters 53% 23%

Source: "Survey on Employee Savings Plans," Foster Higgins, New York City, 1994.

Last updated: Aug 1, 1995

DONNA FENN | Inc.com Contributing Editor

Donna Fenn is the author of Upstarts! How GenY Entrepreneurs Are Rocking the World of Business and 8 Ways You Can Profit From Their Success, an exploration of the ways Gen Y is changing the entrepreneurial landscape.




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