Younger American workers consider an employer-sponsored retirement program
important for joining or staying with a company, according to a Towers Watson survey.
The survey found that among younger workers — those under age 40 — who work for an employer with a defined benefit pension plan, the percentage who said the retirement program was an important factor is taking the job has more than doubled from 28 percent in 2009 to 63 percent in 2011.
There was a nine percentage point increase among younger workers at companies that offer a defined contribution plan, from 19 percent in 2009 to 28 percent in 2011.
Retirement plans also play a role in employee retention, the survey found. Nearly three-fourths of young employers said their retirement plan is a strong incentive for staying at their current job, compared with 37 percent in 2009.