Guest Contributor: Mike Dullaghan, Director of Retirement Sales Execution, Franklin Templeton

Background:

For years, the retirement industry has framed the challenge the same way: participants aren’t engaged enough. Employers need better communication. Advisors need to educate more. But the latest Voice of the American Workplace research by Franklin Templeton suggests something more nuanced—and actionable: the partnership already exists. It just needs to be activated.

Findings:

Employers and employees are not misaligned with retirement readiness. In fact, they’re remarkably aligned on what matters most:

• Competitive pay
• Strong 401(k) match
• Long-term financial security  

At the same time, 93% of employers say retirement planning is a shared responsibility, not a handoff. And employees are signaling they’re open to that partnership—many rely on employer programs to guide financial decisions and value proactive support. This alignment creates the opportunity for defined contribution advisors to reinforce what is working well.

From information delivery to outcome design

The tension is clear:

• 81% of workers say benefits communication is effective
• Yet more than half still feel overwhelmed and unsure what to do next

At the same time:

• 88% want benefits explained in plain language
• 73% of employers say employees ask the same questions repeatedly

This is not a lack of effort; it is a translation gap. Participants are not asking for more information. They want clearer direction: what to do next, how to improve, and where they stand. The real market dynamic is the combination of financial stress and openness to support.

Bottom Line:

Workers are under real financial pressure: 80% turn to their employer for help with financial concerns as retirement timelines lengthen and financial milestones move further out. At the same time, engagement remains strong, with 91% wanting to learn more about their financial benefits. Many also say they might not be saving at all without features such as auto-enrollment. Together, this pressure and openness create a compelling communication opportunity for employers and their advisors.

Access the full findings here: Voice of the American Workplace Survey | Franklin Templeton

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Insights shared by guest contributors are their own and do not represent the views of DCIIA or the RRC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

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