Your future is in the backbench

Ary Rosenbaum
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

In British-style parliamentary systems, a backbencher is a member of parliament who doesn’t hold government office and isn’t a spokesperson of the opposition. They’re essentially a rank and file member. However, the backbencher is usually the future of the party.

As a retirement plan provider, your backbench of employees is usually the future of your organization and it’s best to take care of them and nurture them. I’ve been involved with one too many organizations where the backbench is ignored or treated so poorly that they decide to leave. The best example is that semi-prestigious law firm I belonged to which was loaded with some of the best associate attorneys I’ve ever know. Everyone that I know werre rising legal stars and for one reason or another went to greener pastures where their talents could be appreciated.

As a plan provider, you spend so much time in training your employees that you can’t afford to have a revolving door of employees, especially talented employees. I’ve seen too many plan providers lose talented employees who join the competition or become a competitor. I can recall a certain third party administrator where their backbench was stacked with such seasoned plan professionals that it’s an all-star list of professionals that many in the business would know.

The backbench is your future, nurture it or it goes away.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

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