Shorter tenure equals more turnover and more jobs during workers' careers, and more turnover results in an increased incidence of cashout leakage of 401(k) plans. (Photo: Shutterstock)
On April 10th, the Employee Benefit Research Institute (EBRI) featured the webinar EBriefing: Trends in Employee Tenure, showcasing the latest EBRI research examining broad employee tenure trends over time, and the impact that shorter tenure can have on retirement savings.
The webinar's presenters included Craig Copeland, Senior Research Associate, EBRI and Spencer Williams, President & CEO, Retirement Clearinghouse (RCH), and was moderated by Stacy Schaus, Founder & CEO, Schaus Group LLC.
Craig Copeland on tenure trends
Leading off, EBRI's Copeland detailed the latest trends in employee tenure using data from the U.S. Census Bureau's Current Population Survey, which covers 1983 to present.
Copeland's presentation immediately dispelled two commonly-held myths regarding employee tenure: 1) that a large percentage of individuals hold a “career job” and 2) that tenure tends to be shorter when the labor market is weakest.
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