If you’ve recently felt the decrease of available talent when hiring, you’re not alone. The U.S. unemployment rate is currently hovering below four percent (it came in at 3.8 percent in March 2019 according to the U.S. Bureau of Labor Statistics).
According to Glassdoor’s 2019 employment trend report, the supply of talent in many fields will be stagnant to growing slowly despite rising consumption and spending from retiring Baby Boomers. The combination of rising consumer demand and a slower-growing labor force, are the main reasons the tight U.S. labor market is expected to continue for the next couple of decades (barring market corrections).
In addition to the disruption in workplace productivity, the financial cost to replace an employee may be more than employers previously thought. According to a 2016 Society for Human Resource Management’s (SHRM’s) Human Capital Benchmarking Report, the average cost-per-hire is $4,129, while the average time it takes to fill a given position is 42 days.So, how does a small to medium-sized business stay competitive in a tightening labor market?
Offering a high-quality 401(k) plan ranked in the top five of the most requested benefits by in a recent Glassdoor survey. While competitive salaries are critically important, most employees feel unprepared or nervous about their retirement. According to a Gallup report, 51 percent of non-retirees believe Social Security will not be available to them when they retire.
Arm your recruiters, stay competitive
Job seekers value employers who value their employees. Arm your recruiters with the tools that can help them make a strong case for your company over your competition. Recruits will research your company’s benefits package and likely field multiple interviews and job offers. Level or advance the playing field with a quality 401(k) plan that reinforces your company culture of caring for its team.
Attract high performers
Appeal to job seekers by demonstrating your company is committed to their well-being for the long-term. Including meaningful retirement benefits reinforces your company’s caring culture, your commitment to your employees and your company’s credibility.
Engage employees, increase retention
Tight labor markets increase the potential of your key employees being approached by other companies. Employees who feel their employer is invested in them are more likely to be engaged in their workplace and stay with your company longer, which in turn improves productivity while reducing your cost of employee turnover. Your commitment to your company’s culture and 401(k) benefits will go a long way to keep them with you.
Onboarding assistance and ongoing education
Retirement benefits can be confusing. Leverage financial experts who can help onboard new team members, clearly explain the options and provide ongoing support and assistance to your employees. At RWA Advisors, we work closely with you to ensure that your employees receive top-notch education and care during the onboarding process and throughout the enrollment year. To learn more about our services or to discuss your company’s unique 401(k) needs, email us or call us at (561) 288-1111 today.
Scroll to Top
Matching Your Risk and Return: A Personalized Approach for Maximizing Your Financial Success
At Rubin Wealth Advisors, we believe that understanding your risk tolerance is the key to maximizing your financial potential. Traditional methods of categorizing risk with vague labels like conservative, moderate, or aggressive often lead to confusion. These terms can mean entirely different things to different people, which creates misalignment between your expectations and your investment strategy. That’s where problems can arise—and where opportunities can be missed.
We take a different approach. By using a precise, quantitative system to determine your Risk Number, we help you make informed decisions that directly benefit you. Your Risk Number is more than just a score; it’s a powerful tool that helps guide your financial strategy. If your Risk Number is 64, for example, both you and our team will know exactly what level of risk that involves and how it relates to potential returns. The guesswork is gone, replaced by clarity and confidence.
Here’s where it really benefits you: Understanding your Risk Number not only ensures that your portfolio is aligned with your comfort zone, but it also increases your chances of achieving a higher risk-adjusted rate of return over time. By matching your investments to your specific risk profile, you’re better positioned to optimize returns without taking on unnecessary risk—especially over a 3-5 year period, where market fluctuations can test even the most seasoned investor.
The process is simple and designed to serve your best interests. In just a few minutes, we’ll walk through a short conversation to determine your Risk Number. From there, we’ll craft an investment portfolio tailored specifically to you, ensuring that the level of risk is appropriate for your goals. This isn’t about avoiding risk entirely; it’s about taking on the right amount of risk so you can achieve the returns you need while remaining confident in your strategy.
By aligning your portfolio with your Risk Number, you gain the peace of mind to handle market volatility. You’ll know exactly how much downside risk is possible and what kind of upside you can expect. For example, a portfolio with a Risk Number of 64 might have a potential downside of -10% over six months but offers a possible 15% gain. This range helps you stay calm during downturns because you’ve already accounted for them, and it positions you to benefit when the market performs well.
We also stress-test your portfolio in various market conditions—such as economic downturns or inflation spikes—to ensure you’re always prepared. This proactive approach ensures your investments stay aligned with your risk tolerance, giving you the best chance for success regardless of what happens in the markets.
How does this benefit you? Managing risk properly allows you to maximize returns without exposing yourself to more risk than necessary. Over time, this careful balance increases the likelihood that you’ll achieve your financial goals—whether that’s building wealth, preparing for retirement, or preserving your assets.
At Rubin Wealth Advisors, a Boca Raton financial advisor, we’re committed to helping you achieve higher risk-adjusted returns. As a licensed fiduciary, we specialize in guiding clients through personalized wealth management strategies, ensuring your investments align with your long-term goals. Let’s work together to discover your Risk Number and build a strategy that sets you up for success over the next 3-5 years and beyond. Contact us today to get started.