Nothing makes my heart sing as much as getting to build relationships with employees over time. In 2012, one of my clients had asked everyone to take a pay cut, had discontinued their match, and was just trying to keep the doors open until the recession waned.
Those were tough employee meetings.
I parked there for 4 solid days helping folks figure out how to keep saving for retirement while trying to meet the myriad of other financial responsibilities and situations they had. There were tears, there was frustration, and there was eternal gratefulness to their employer that they still had a job. What saved this business (related to real estate) was their family culture and the attitude that they were all in it together.
Three years later I found myself in the same conference room with SUCH a different story from the same employees. Business is booming so they're cautiously optimistic after what they've been through in the last three years, but folks are on track and in a better position to make long-term decisions.
Don't underestimate the power of how your company's retirement plan fits into your employee culture. Employees who understand the benefit of it and the education around it that you provide, even during the tough times, have higher satisfaction and think twice before they go elsewhere. We've seen it first hand!