Key Communication Concepts To Help Your Retirement Plan and Workforce

Wars have been started over words, and retirement outcomes for employees can also be impacted by words.  Steve Jenks, a Senior Vice President and the Chief Marketing Officer at Empower shares his over 20 years of experience on how word choice can make a big difference to someone’s ability to retire.  Key words you find commonly in retirement plan communications like match, assets, participants, deferral percentage don’t have the meaning or impact you think it should have with your employees.  He also hits on the differences in impact of illustrations vs. words, the importance of keeping calls to action simple, how automatic plan features have changed communications, measuring results, social media strategies and much more.  He also had a surprising conclusion on how employees like to receive information about their retirement plans and their desire for in person meetings, don’t miss that.

According to Jenks, financial services doesn’t tend to be on the cutting edge of communication. But if firms want to connect with consumers, they’ll need to adopt the communication techniques used in retail marketing or online sales.

 

Key findings

  • Key words commonly found in retirement plan communications don’t have the meaning or impact they should with employees.
  • Illustrations and examples almost always outperform words in consumer communications.
  • It’s important to keep calls to action simple, which typically means only asking people to do one thing.

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