Happy National Employee Benefits Day!
If you, like most people, are unsure as to why you should be celebrating, let us fill in the blanks. According to the International Foundation of Employee Benefit Plans website, National Employee Benefits Day was created by the IFEBP with the express purpose of recognizing trustees, administrators, benefits practitioners and professional advisors for their dedication to providing quality benefits and the important role they play in their colleagues’ well-being.
This year focuses on “Behavioral Decision Making: An Adventure into the Irrational Mind.” For a quick intro into what behavioral decision making is and how plan sponsors can use it to their advantage, check out this funny video, courtesy of www.ifebp.org.
The long and short of it is this: human beings tend to make irrational decisions. Thankfully, it’s possible to use our own natural biases to make smarter financial choices. For more information into how this works, check out IFEBP’s article – Ten Ways Behavioral Finance Can Boost Retirement Security
Be sure to check out the rest of their site – there’s a lot of good information about how organizations are utilizing behavioral decision making, as well as a free on-demand webcast that goes into even more detail.
For all our clients and friends, Happy National Employee Benefits Day!