As with all employee benefits, simply including non-traditional voluntary benefits in the benefits package isn’t enough. Open enrollment is coming up soon. How can you more effectively position non-traditional VBs to show the value they offer and increase enrollment?
More targeted communication leads to higher enrollment. With a workforce made up of millennials, Gen Xers and baby boomers, benefits communication can be challenging. Communication has to appeal to the different viewpoints of each generation – not only in message but in the method in which it is communicated. While the same non-traditional voluntary benefit could be beneficial for all three generations, it might be for different reasons.
Essentially, it means that HR needs to think like marketers when communicating about benefits, especially non-traditional voluntary benefits. Employees are used to being communicated with as individuals in the consumer marketplace – but not in the employee workplace where it traditionally has been a one-size-fits-all communication practice.
Millennials in particular can benefit from education about voluntary benefits. While they may view themselves as invincible, they actually have a lot to protect. Yet they are either unaware of voluntary benefits or reluctant to purchase them.
In addition to creating awareness, communications must encourage employees to learn what voluntary product options are available and what advantage they provide, as well as what it means to their overall financial wellness to have such benefits. Employees who report their benefits communications are easy to understand are nearly five times more likely to find enrollment simple and straightforward. That leads to higher enrollment.
Our e-guide, “Paving the Road to Financial Wellness with Voluntary Benefits”, is a great resource for tailoring voluntary benefits to employees’ diverse needs. This guide profiles the typical employee types in the workforce today, their benefit needs and what benefits best fit each employee type. Understanding their needs can help tailor communications messages.
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