North American Tool CEO Curt Lansbery couldn’t understand why his employees weren’t maxing out their 401(k) contributions, even though the company kicked in. They were throwing away free money.
So one year, Lansbery brought a bag holding $9,832—employees’ unclaimed money from the year before—to the 401(k) enrollment meeting. He poured it over a table.
“This is your money,” he said. “It should be in your pocket. Next year, do you want it on the table or in your pocket?”
After a stunned silence, employees started funding their 401(k)s.
— Adapted from “Passion Provokes Action,” Dan and Chip Heath, Fast Company.