401k under magnifying glassWorkers are paying attention to other things about 401(k)s, too.Nearly half—49 percent—of respondents said that it's important fortheir 401(k) provider to be a fiduciary. (Photo:Shutterstock)

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Even in a time of increasingly trendy benefits aimed atattracting and retaining younger employees, the 401(k) is still a valuable recruitingtool—that's the word from Betterment for Business.

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Related: Best 401(k) plans by industry: interactiveinfographic

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Results of its 2018 Customer Survey indicate that, althoughemployers are diversifying the funds they spend on employee benefitpackages as they seek to lure younger workers with much-neededskills, the 401(k) is holding its own against such newer offeringas unlimited paid time off, tuition reimbursement and professionaldevelopment opportunities.

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In fact, 67 percent of respondents said that when evaluating ajob offer, a good 401(k) plan was very important or important intheir consideration; only 9 percent said that it had no impact atall on their decision to take a job.

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Related: 5 401(k) benchmarks every advisor mustknow

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Incidentally, a lot of employers are missing the boat by notusing their 401(k)s as recruiting tools; 30 percent of respondentssaid that during their job search, details of the company 401(k)never came up at all.

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Matching funds are important, too. Not only do 46 percent of allrespondents say that a match played a role in whether they tooktheir current jobs, once they get hired they take full advantage ofit—with 78 percent of people who have a match contributing enoughto take advantage of the maximum allowed.

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Related: Will more 401(k) sponsors raise employermatch?

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Employers who don't match funds in a 401(k) are doing theiremployees a disservice, since 10 percent of people who don'tparticipate in their company's 401(k) plan say it's because thecompany doesn't match their contributions.

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Workers are paying attention to other things about 401(k)s, too.Nearly half—49 percent—of respondents said that it's important fortheir 401(k) provider to be a fiduciary, and 64percent say they check their accounts a minimum of once every payperiod, if not more often.

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In addition, over 57 percent strongly agree that their 401(k)plan should offer transparent and low-cost fees.

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