Strategic HR

Looking for a New Recruitment and Retention Benefit? Consider the Sallie Mae 401(k)

By Holly K. Jones, J.D.

Take a moment and picture your workforce. They come in each day and serve customers, build products, promote brands, and counsel clients, but what is their “why?” What are the primary factors that drive your employees to come into work, even when they have a case of the Mondays? Maybe they thrive on the personal or professional development or the opportunity to be part of something larger than themselves—and, it’s okay to admit, maybe they’re working for the paycheck, too.

So, once they have that all-important salary in the bank, what do they do with their earnings? What’s behind the paycheck and the drive to do more for you in order to earn more for them? Perhaps they’re working to pay rent or a mortgage, to afford a nice car, to begin or support a family, to enjoy a yearly vacation, or to save for retirement. They may contribute to charity, pay off medical expenses, enjoy a night out, or pursue a hobby or three.

They may also be paying off student loans.

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