Everyone knows who the big players on the block are. How could they miss them? They tend to steal the show, and the business. Yet every now and then, other companies can come front and center by being nimble, unique, and irresistible.
In business, those other players are the small businesses of the world. Many are dead set on disruption, but they need to have a phenomenal team in place to pull off market domination. Regrettably, getting top performers to join a fledgling startup or young organization can be tough. Without the lure of amazing perks, superstars (or superstars in the making) won’t budge from their current positions. Yet many smaller entities simply don’t have the coffers to offer stellar benefits, including a big one that’s a huge must-have on top candidates’ checklists: a robust 401(k) plan.
Historically, only larger enterprises have been able to affordably manage and offer complicated 401(k)s. This has caused quite a bit of consternation among small business leaders who feel left out when it comes to negotiating with exceptional job applicants. It’s hard to convince a talented performer with an impressive track record to take a lower salary at a company that can’t even offer a viable retirement vehicle.
The good news is that this problem caught the eye of a trio of entrepreneurs, and they’ve changed the playing field. Kevin Busque, Mike Nelson, and Jeremy Caballero were so sure that a 401(k) option for small businesses was a much-needed service that they founded a speciality provider solution, Guideline.
The premise behind Guideline is to remove the barriers that keep upstarts and companies with few full-time workers from jumping into the 401(k) game. Things like the time, money, and resources to manage most traditional 401(k)s make it tough for a smaller business. Guideline has made these hurdles moot by automating tasks whenever possible. What’s the result? A 401(k) that employers and plan administrators don’t have to babysit. Everything from compliance issues to tax forms are handled by Guideline’s top-level secure software.
Now with Guideline, corporate executives can spend about 10 minutes setting up a corporate plan to offer their people. In minutes, entrepreneurs and executives are introduced to Guideline’s upfront pricing, making it simpler for them to choose the right 401(k) solution.
And their clean, simple, single web-based platform was built to integrate effortlessly with commonly used payroll provider systems including ADP, Gusto, Square, Quickbooks, and Rippling. The interface is easy to understand and use for all parties. This helps make miscommunication and redundant workloads a thing of the past.
It’s also easier for employees to sign up and confidently manage their accounts. Guideline allows them to opt into their 401(k) accounts after completing a quick questionnaire, set them up with a 401(k) that makes sense based on their feedback, and manage the 401(k) throughout the years. Employees who become 401(k) plan users can also make changes to their traditional or Roth accounts without notifying their employers or plan administrators.
Small companies don’t have to sit on the sidelines anymore. With Guideline as their 401(k) provider, they can fetch the brightest up-and-coming players from the job market by offering them all the benefits they could want.
(Syndicated press content is neither written, edited or endorsed by ED Times)
