Domani Wealth Offices Closed September 24th                                                                    

All Domani Wealth offices will be closed on Tuesday, September 24, 2019 for employees and their families to enjoy a special Appreciation Event in recognition of the team’s work and dedication to providing quality service to clients throughout the year. If you have an urgent matter and need immediate assistance on this day, please contact your advisor on their cell phone.

We appreciate your understanding.

Should your Company Implement a Student Loan Assistance Program?

The simple answer is yes! By doing so, you’ll attract, retain, and engage top college-educated talent at your company.

Twenty-six percent of the U.S. workforce and 69 percent of 2018 college graduates are encumbered by student loans, with the national total student loan debt total climbing steadily towards $1.6T. Student loan assistance has quickly become the No. 1 benefit desired by college-educated talent. For many, getting out from under student debt is a more meaningful accomplishment than:

  • Graduating college
  • Getting their first job
  • Receiving a promotion

When employers offer student loan assistance, they quickly notice three improvements:

They Hire Top Talent 13 Percent Faster

In today’s highly competitive market for talent, offering student loan assistance as a benefit is the best way for employers to attract the right people, and fast. The Millennial Benefit Preferences Study found that 85 percent of respondents would accept a job offer if student loan repayment was included.

Employee Tenure Increases by 36 Percent

Job hopping is high and replacing talent is expensive and time-consuming. Recruiters must spend both time and money on finding the perfect replacements, and there is often a decrease in overall company productivity after an employee departs.

Employers who make contributions to workers’ student debt engage them in a meaningful way, and in turn, save on costs of recruitment and turnover.

Gender and Cultural Diversity Improve

Did you know?

  • ⅔ of student debt is held by women
  • African Americans and Hispanics, on average, hold two times more student debt than their white peers

Companies that help pay down student loans can capitalize on a unique opportunity to engage these often underrepresented groups and accelerate the positive impact of gender and cultural diversity within their workplace and beyond.

Helping companies understand how retirement planning fits into the overall mix of benefits such as student loan assistance, as well as how it can impact recruiting and retention is part of our usiness Retirement Plan ServicesGet in touch anytime with questions or to start a conversation.

 

Important Disclosure

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this article serves as the receipt of, or as a substitute for, personalized investment advice from Domani. A copy of Domani’s current written disclosure brochure discussing our advisory services and fees continues to remain available upon request.

PLEASE SEE ADDITIONAL IMPORTANT DISCLOSURE INFORMATION

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