Prudential seeks to help turn employees into savers

One product of the research is the Lifetime Saver Commitment Profile which will assist employers in encouraging plan participants to properly save for retirement. The Lifetime Saver Commitment Profile has a built-in index which measures employees' dispositions when it comes to saving. The plan sponsor can then tailor programs and tools that will hopefully prompt individuals to take the necessary actions.

With the data provided by the index, employers will be able to personalize retirement communications and education to those who seriously need it. One troubling sign the research brought to light is that although workers are worried about having enough money in retirement, only one in ten employees eligible to participate in employer-sponsored retirement are considered 'highly motivated' with that motivation naturally and unfortunately increasing when workers are nearing retirement, when for many it is too late.

"American workers want guidance. Our research revealed that the more motivated employees, who include a higher number of women, older workers and the well educated, share a proactive approach to retirement planning and savings, while many other employees still need guidance," said George Castineiras, senior vice president of Total Retirement Solutions for Prudential.

According to the results of the research, it is guidance that is needed which would place the onus squarely on the shoulders of the plan sponsor. Some ways plan employers can work to motivate and guide employees include: Keeping employees engaged; removing barriers (reducing the degree to which employees feel overwhelmed and intimidated) and making it easy.