Plan sponsors are increasingly taking it upon themselves to devise their own communication strategies to engage their participants in financial as well as health wellness, according to the inaugural WorkPlace Exchange (WPE) report from Corporate Insight.
This study is based on actual materials submitted for review from sponsors whose plan size was at least $1 billion in assets, and some of the best practices shown realized increased enrollment, deferral rates and dialogue.
Video is a preferred format for an introduction to topics such as benefits and retirement plans due to the succinct nature in which topics can be covered, Corporate Insight says. The most impressive piece it found was an animation that provides a full view of a broad benefits program for new employees in less than four minutes. “The employer clearly recognized potential of multimedia, which allowed it to introduce concepts like HSAs and enrolling in their retirement plan, but not go in nearly as much depth as is covered in forms and other hard copy versions that the video is meant to supplement,” Corporate Insight says.