A news release from Cammack LaRhette Consulting said 20% of non-participants left the company while 9% of participants did so. The firm’s 2006 study found a similar 25% to 10% ratio.
The study found that among 69 employers in both year’s studies, the participation rate increased by 1.74% while employee turnover dropped by 4.24%.
Michael A. Webb, Vice President, Cammack LaRhette Consulting cautioned against thinking that increasing voluntary participation will automatically increase employee retention levels.
The study collected retirement plan data from more than 75 employers covering more than 100,000 employees. More information about the company is at http://www.cwcainc.com/index2.shtml .