During a recent interview with a potential new employee, I was surprised by a series of questions I was asked in return. The interviewee, a millennial, posed an in-depth dive into our company 401k offering: What is the employer match? What funds are offered? What are the expense ratios of those funds? What is the vesting schedule? Is there an option for profit-sharing directly into the 401(k) account? I knew some of the answers, but not well enough to instill confidence.

I should've expected the next question: Is your 401(k) any good? The answer is relative to how our 401(k) offering matches up to other small businesses -- and I did not know the answer.

The final question really hit home: Are you offering me a job or a career?  The difference between the two, as it was explained to me: If I spend 30 years with a company, I better retire comfortably and on time, without question.   

The interview went well, but I had to do some research and provide these answers to sway the decision. As it turns out, our 401(k) was terrible, and I wasn't able to hire this person who I considered to be a great candidate. I had always taken for granted that just because we had a plan, it was fine.   Full story