Supersizing the 401(k)

Citation

(2009), "Supersizing the 401(k)", Human Resource Management International Digest, Vol. 17 No. 4. https://doi.org/10.1108/hrmid.2009.04417dad.006

Supersizing the 401(k)

Article Type: Abstracts From: Human Resource Management International Digest, Volume 17, Issue 4

Young L. Business Week (USA), 12 January 2009, No. 4115, Start page: 38, No. of pages: 3

Purpose – describes how McDonald’s is hoping that its retirement package will retain valuable managers long term. Design/methodology/approach – looks at how McDonald’s has enhanced its retirement package for its restaurant managers; highlights how the company considers that managers who are able to motivate employees and keep customers coming back leads to increased profits. Outlines the challenges that McDonald’s faces as they attempt to hold onto much valued management personnel long term; draws attention to how African Americans who make up a large percentage of the company’s manager pool, are reluctant to save for retirement and are mistrustful of the financial system making it difficult for McDonald’s to sell its retirement package. Describes McDonald’s generous 401(k) scheme for mangers; records the strategy used by Kenny Sanders, a McDonald’s human resource officer, to encourage people to sign up to the pension plan and features one McDonald employee who has been saving for the future. Originality/value – identifies some of the reasons why McDonald’s African-American managers are reluctant to sign up to McDonald’s pension scheme. ISSN: 0007-7135 Reference: 38AE038

Keywords: Pensions, Perks, McDonald’s, Retention