Video: The benefits of social media

Social media will provide plan sponsors with a vast amount of useful information about their members.

“This data’s going to be sitting there,” says Jesse Hirsh, technology strategist and researcher with Openflows Network. “If anyone in an organization—it might be the people who are currently involved in retirement planning from both a data perspective and a social perspective—is in the best position to engage members.”

He adds that the information will also provide employers with information about the lifestyle they lead and the lifestyle they aspire to.

Read more about social media and how plan sponsors are using it to their advantage in our special technology issue.