Engagement Strategies

These engagement and communications strategies apply to both retirement savings and direct deposit, though some are specific to retirement savings. See Resources for links to material for use in your campaign.

Engagement Strategies

Incorporate education and registration for direct deposit and retirement savings programs into new employee orientation.

Continue to promote enrollment throughout the year. Some options:

  • Open enrollment period
  • Company defined campaign period
  • First quarter during “tax time,” perhaps coordinated with onsite tax preparation sessions
  • As individuals become eligible
  • 401(k) Day in early September—the week of Labor Day

Train staff to serve as advocates, trusted sources for retirement savings information. This is particularly useful for ethnic segments which may be underrepresented in retirement savings plans, also for geographically dispersed employees.

Implement “Easy Enrollment Cards,” brief, personalized enrollment cards to complete and return. Encourage employees to complete in advance of eligibility if eligibility is tenure-related.

Plan and launch interactive campaigns (See Case Studies for examples.)

  • Games and prizes are particularly effective.
  • Engage people in thinking, talking or writing about their dreams for the future.

Communication Strategies

Provide a clear, concise explanation of the benefits for participating, with visual examples

  • Examples of costs for paycheck cashing services, versus using direct deposit into a checking account or payroll card (e.g. monthly and annual savings)
  • Illustrate the dollar value of employer match contribution and tax savings associated with putting money into a retirement savings plan versus not.
  • Graph the growth in savings over time in retirement savings at various contribution levels, $5 per week, $10 per week, etc. (Speak and write in terms of dollars per week rather than percentage of salary.)
  • Clearly explain restrictions and penalties for early withdrawal. This can be especially important for immigrants who may plan a return to their native country.

Emphasize key messages

  • Positive messaging, emphasize what employees can gain by participating
  • Ways to save and calculated savings (e.g. avoid check cashing fees, eat out less, etc.)
  • Future value of saving money now, use simple graphics and/or tangible example (e.g. paper slide-rule)
  • Employer match = free money
  • Use terminology such as “saving for your future” or “wealth accumulation”, instead of “saving for retirement.” This can be particularly helpful with younger employees.

Use multiple mediums

  • Direct mail, intranet postings, printed posters in break rooms, printed flyers, animated emails, in-person meetings etc.
  • In-person meetings are effective with difficult to reach employees
    • Gifts, food and prizes encourage attendance
    • Opportunity to sign-up at the meeting increases participation levels

Create visually engaging materials

  • Attractive, compelling print material (with colors, photos, imagery)
  • Interactive electronic materials can include games, contests, tangible objects, pages to write one’s vision of retirement, etc. See Case Studies for descriptive examples.

Use few words and include a call to action

Keep it simple—minimize decisions required, provide clear explanations

Chose photos, language and colors that are culturally appropriate for your workforce

Employ testimonials by well-regarded, culturally relevant representatives

  • Use in print materials and/or meetings to target specific employee groups. Note differences within groups such as African immigrants.

Address language barriers with multilingual information

  • If employees speak two languages, create one bilingual piece. Some employees are embarrassed about their need for non-English materials and may not pick up material only written in their native language.

Personalize communications

  • A personalized letter or easy enrollment card showing the savings an employee would accumulate based on the current rate versus a higher savings rate.
  • A periodic personalized letter from the company owner or CEO urging non-participants to enroll. Message could be: “Because we care about your future, we hope you will consider this benefit.”

Offer rewards

  • Prize drawings, raffles, prizes associated with a competition, food, etc.