With governments and media constantly focused on Canadians’ lack of retirement savings—and high levels of household debt—the time may be right for employees to finally sit up and take notice of their available workplace plans.
Tailoring information to age members’ ages is an effective engagement strategy, but age is only one factor plan sponsors need to consider. For every demographic band on the spectrum, the following guidelines may be useful.
Go to the source
Simple member surveys can offer a wealth of insights. Many retirement service providers routinely collect data for their own use in developing and adapting options for clients. Most are willing to share this data with clients.
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• All-ages show
• Deconstructing the “normal” language of pensions
Modular delivery—in person or online—allows employers to streamline information tailored to groups with differing interests. Many providers already offer these resources, and most will work with employers to effectively adapt targeted materials and messages.
Survey questions and responses will identify major trends, but respondents’ comments are equally important. Feedback helps identify opportunities and shows employees that their insights are valued.
Build a body of knowledge
Over time, collecting employees’ perspectives—including measurement of what information they use and remember—can support effective targeting. This data—particularly demographics—can trace the evolution of employees’ needs and interests and identify opportunities for re-engagement.
Encourage questions, target messages
Offering an easy, immediate way for employees to make inquiries can help employers fill information gaps between presentations and major surveys. Polls and reminders via web and email may prove helpful, but keep messages small and specific. Focusing on a single element—eligibility for a match or a bonus period, for example—saves employees from having to dig for details.
When these messages are targeted to eligible employees and timed effectively, they’re more likely to resonate. Recipients learn that messages they receive apply to them personally and require attention. Employees outside the target group won’t be frustrated by useless information.
Promote good news
Key features and valuable options like fee reductions may be news to some employees. Highlighting benefits can help reinforce the plan’s value and build awareness without requiring employee action.
With diverse employee populations whose needs and interests vary, no one-size-fits-all promotion will suit everyone. Offering broad options delivered with different media—and taking cues from employees themselves—can help employers mount effective education and engagement plans.