Data & Research August 16, 2012

Employers Want to Improve Benefits Communications

More than half of employers surveyed (55.6%) report that the effectiveness of their benefits communication efforts has improved during the last three years.
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However, nearly half (45.4%) are not satisfied with their current communications strategy, and an additional 28% are ambivalent, according to the 2012 Inside Benefits Communication survey from Benz Communications. Seventy-eight percent of employers cite getting employees engaged year-round among their biggest challenges, yet fewer than one-third (28.9%) are communicating with employees year-round.  

Employers’ top goals include executing a successful annual enrollment (60%), increasing workers’ use of preventive care (48%) and increasing employees’ 401(k) savings. Fewer than one-quarter (24%) report meeting these goals last year; 18.8% are not sure.    

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Only 24.2% are connecting their benefits strategy to their company’s bigger business strategy; fewer than half (46.9%) try. More than half (54.6%) do not document their benefits communication strategy, and 41% state they are not sure if their benefits communication efforts are helping them meet their goals.  

More than two-thirds (68.3%) report budgets of less than $25,000 for benefits communication; 10.1% report budgets between $25,000 and $75,000. The majority of these budgets are not being spent strategically. For example, two-thirds (66%) report print and postage costs (one-time non-renewable expenses) as consuming most of their budget.  

The full survey report can be downloaded from here.

 

Products August 16, 2012

Securian Adds QR Codes to Participant Statements

Securian has added a QR (quick response) code to retirement plan participants’ quarterly account statements and envelopes.
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When scanned with a smart phone equipped with a camera and the reader application, the QR code directs participants to Securian Retirement’s mobile site to obtain current account balances, contribution rates and personal rates of return on their retirement accounts.   

Securian Retirement’s mobile site, designed and built in-house, does not attempt to replicate all the information on the full website. Rather, it provides the information people want frequently and quickly. The mobile site appears automatically when viewed from a smartphone and is designed for easy use.   

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“We pushed the account contact links up to the top of the screen, kept the copy concise, included one-touch embedded links, and made the navigation simple and intuitive,” said Rick Ayers, vice president, Retirement Plans.

 

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