“A challenge that we have is engaging participants in plan education. Each year we hold on site seminars for our employees who work at headquarters. This year the attendance was rather poor – what are your suggestions on how to involve and educate on-site participants on plan information?”
Boosting attendance usually comes down to a few key things – adequate planning, knowing your audience and providing engaging content. An approach that incorporates all three tends to drive better results for employers and employees.
For example, we typically work with our clients to recommend a meeting format that works best with the culture, climate, and location of the workplace, which can mean hosting live or virtual meetings or a combination of both. Some clients have a few large locations where live meetings are optimal, but many satellite offices that may have been neglected. A live webinar allows for all satellite offices to join in and interact live with their peers. It comes down to knowing the audience you’re trying to reach and making sure to plan appropriately to reach them.
From a content standpoint, one of our most important realizations is understanding that the key retirement planning challenge Americans face isn’t about the plan, it’s overcoming behavioral traits that get in the way of long-term financial security. Prudential has assembled a “behavioral army” of social scientists to help us study the five traits that are most likely to derail saving for retirement, and that research informs our entire approach to participant communication.
For a different way to engage participants, check out the videos, activities, and quizzes on our “Challenge Lab,” available at http://www.BringYourChallenges.com.