How to Convince your Employer to Change your Investment Plans
Review the investment plan your employer currently offers., Talk to your plan administrator about your concerns and ideas., Get additional support., Prepare your pitch., Talk to your third party administrator., Discuss your plan with union...
Step-by-Step Guide
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Step 1: Review the investment plan your employer currently offers.
Make notes about what you do not like in your present plan, or what you think could be improved.
Be specific.
You will need to present very good reasons for your employer to change anything.
Prepare a list of alternatives to the current plan.
Be sure you can articulate a rationale for changing. -
Step 2: Talk to your plan administrator about your concerns and ideas.
This will probably be someone in your Human Resources department.
Ask what you have to do to recommend changes.
You will probably not be successful after your first meeting, but your plan administrator can explain who makes the final decision, whether it is the company's CEO or a Board of Directors. , Talk to co-workers about your proposed changes to the company's investment plan, and see if you can get others to support your ideas. , Schedule a meeting with the decision makers, and make sure you are prepared to make your case.
Present your ideas for change, with your rationale.
Provide supporting documentation including statistics, testimonials and other research you have accomplished in seeking a different investment plan.
Describe how it will benefit the company.
Point out ways the new investment plan will save money or increase morale.
This will not only make your proposed changes more attractive to the company, it will reassure the decision makers that your desire to change the plan is not self-serving.
Provide the names of other employees who support the change.
Whether you have a petition or written statements, let your company know that you have obtained the support of other workers. , They will not be authorized to make any changes to your investment plans without approval from your company's management.
However, your representative might be willing to discuss different options with you. ,, You will probably not get a decision immediately.
Ask management or human resources when would be an appropriate time to follow up.
Express your appreciation for the opportunity to propose your plan.
Send an email or a thank you note after you meet with your company's leadership. -
Step 3: Get additional support.
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Step 4: Prepare your pitch.
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Step 5: Talk to your third party administrator.
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Step 6: Discuss your plan with union leadership if your company's investment plans are a result of a collective bargaining agreement.
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Step 7: Follow up in 2 or 3 weeks.
Detailed Guide
Make notes about what you do not like in your present plan, or what you think could be improved.
Be specific.
You will need to present very good reasons for your employer to change anything.
Prepare a list of alternatives to the current plan.
Be sure you can articulate a rationale for changing.
This will probably be someone in your Human Resources department.
Ask what you have to do to recommend changes.
You will probably not be successful after your first meeting, but your plan administrator can explain who makes the final decision, whether it is the company's CEO or a Board of Directors. , Talk to co-workers about your proposed changes to the company's investment plan, and see if you can get others to support your ideas. , Schedule a meeting with the decision makers, and make sure you are prepared to make your case.
Present your ideas for change, with your rationale.
Provide supporting documentation including statistics, testimonials and other research you have accomplished in seeking a different investment plan.
Describe how it will benefit the company.
Point out ways the new investment plan will save money or increase morale.
This will not only make your proposed changes more attractive to the company, it will reassure the decision makers that your desire to change the plan is not self-serving.
Provide the names of other employees who support the change.
Whether you have a petition or written statements, let your company know that you have obtained the support of other workers. , They will not be authorized to make any changes to your investment plans without approval from your company's management.
However, your representative might be willing to discuss different options with you. ,, You will probably not get a decision immediately.
Ask management or human resources when would be an appropriate time to follow up.
Express your appreciation for the opportunity to propose your plan.
Send an email or a thank you note after you meet with your company's leadership.
About the Author
Edward Peterson
Dedicated to helping readers learn new skills in practical skills and beyond.
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