When it comes to protecting the environment and our planet—sustainability is a word people can usually get behind. But ask plan members how they feel when sponsors start talking about sustainability in the context of pensions, and chances are you’ll get an earful.
Principal Financial Group has introduced a new quick enrollment method that lets American employees to sign up to save for retirement in their DC plan by sending a text message.
Dale Carnegie’s 1936 classic, How to Win Friends and Influence People, might have been written directly for DC plan sponsors. While plan sponsors can’t force members to join a DC plan, they can influence them. But they have to know how their members think. Understanding the psychology behind their decisions can only help plan sponsors to influence employee behaviour.
Of the seven billion people on this planet, two billion are connected to the Internet, six billion use mobile technology, and one billion have smartphones. From these statistics, it’s hard to imagine a world where mobile technology won’t be a part of the way providers and plan sponsors communicate and connect with their members.
The Saskatchewan Pension Plan uses social media to connect with members by providing financial-related information.
Following an education campaign for its DC plan members, Niagara Casinos wanted to keep the momentum going.
There are three ways plan sponsors can motivate their employees to increase their commitment to retirement savings.
By the end of 2013, the number of mobile-connected devices will exceed the number of people on earth, and by 2017, there will be nearly 1.4 mobile devices per capita. If these stats—taken from Cisco’s data traffic projections—are uninspiring, consider the bottom line: if you don’t get in the game, someone else will.
How group insurers prefer to communicate with employees, clients and plan members
In all the talk about employee engagement around pensions and benefits (or lack thereof), one important fact seems to have fallen off our industry’s collective radar: pensions and benefits are boring‒and even downright depressing.