Student Loan and College Saving Benefits: The 401(k) for the Millennial Generation
March 27 | 4:00 pm - 5:00 pm
Speaker: Meera Oliva | Chief Marketing Officer, Gradifi Inc.
Your employees have never been more educated. They’ve also never been deeper in debt. Today seven out of ten graduates enter their first jobs with an average of $35,000 in student debt. According to a recent study by Oliver Wyman, 80% of working professionals with student debt consider their student debt to be a source of either significant or very significant stress. This is not a problem exclusive to younger workers either. Student debt impacts employees of all ages, whether they are paying back graduate school loans or a child’s student loans or even saving for a child’s future education costs.
Today, many employers are turning to student loan and college savings benefits to bring financial wellness to employees as a way of differentiating themselves. Some employers have even incorporated student loan help into their 401(k) plans.
This session will discuss how innovative companies are recruiting and retaining talent by addressing their employees’ most pressing financial needs.
In this session you will:
- Discuss how student loan and college savings benefits bolster employee recruiting and retention strategies
- Learn how to develop a benefits program that is right for you
- Discuss how these benefits can provide ROI to your company
SHRM BoCK Competencies: Communication, Consultation, HR Expertise