BOSTON — Today's workplace benefits programs go well beyond health insurance and retirement plans. Companies of all sizes know that in order to attract and retain skilled employees, including young people entering the workforce, their benefits programs have to address a broad range of issues. In response, Fidelity Investments® continues to develop diverse workplace benefits offerings geared to help people at all stages of employment.
"Employees in today's workforce include multiple generations and seek help with paying off college debt, budgeting, saving for a home and for retirement," said Kevin Barry, president of Fidelity's Workplace Investing business. "Financial wellness programs designed to help diverse employee populations represent a modernization of benefits offerings. We empathize with employees who find it hard to consider retirement when the financial pressures of today, such as overwhelming college loan debt, challenge their short and long-term savings abilities."
Companies of All Sizes Seek Superior Service, Broad Benefits Offerings
Fidelity's scale and breadth of products and services enable it to provide benefits far beyond retirement saving. This helped it earn 1,400 new defined contribution (DC) plan sponsor clients during the first half of 2017 with new assets totaling $50 billion. "These new clients represent 586,000 additional people benefiting from the financial wellness services Fidelity provides in support of their total well-being," said Barry.
While large international companies, emerging start-ups and those in the non-profit arena may have different business strategies, all seek to attract and retain the best employees available in today's competitive search for talent. Offering a broad, innovative benefits program can play a role. Fidelity is the largest retirement provider in the industry1 as it continues to deliver unsurpassed customer service, accurate recordkeeping, and digital solutions that can be accessed in the way people wish to do so.
NIKE, Inc., the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories, chose Fidelity to be its 401(k) provider during the first half of this year. In addition to large global companies, Potbelly Sandwich Works, a growing restaurant firm, Carla's Pasta, makers of homemade filled pastas and Italian Sauces and Pestos, and Sabra Dipping Company, known for its hummus, dips and spreads, all worked closely with third-party advisors to select Fidelity, an increasingly common decision for emerging companies. Tax-exempt employers, such as universities, hospitals and municipalities, also actively utilize Fidelity's offerings. Fidelity recordkeeps nearly 11,000 tax-exempt DC plans.
About Fidelity Investments
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $6.3 trillion, including managed assets of $2.3 trillion as of July 31, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients' money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.