The healthy dynamism that has characterized the U.S. economy over the past decade has been a tailwind for businesses of all sizes. As with any period of change and expansion, however, there have been growing pains. Employee turnover has risen sharply in the past several years, and a tightening labor market looks set to exacerbate this trend for the foreseeable future. People have opportunities, and they’re increasingly willing to move to pursue them. The average baby boomer, to this point, has changed jobs 10 times since the start of his or her career. For millennials, that figure could approach 15 by the time retirement age rolls around. Read on to learn why plan sponsors should consider account consolidation.
