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In the modern, information-based economy, human talent is incredibly important to just about any organization. Finding, recruiting, and retaining that talent is consequently extremely important as well, and businesses have many strategies aimed at retention, from creating diverse and inclusive workspaces to tenure-based bonuses and advancement schemes.
But what ever happened to the ultimate corporate retention tool—the mighty pension? These employer commitments to continue to pay staff after retirement—provided they achieved a certain number of years of employment with the organization—were once a cornerstone of the economics of retirement for millions of Americans.
A Brief History of Pensions