More people will sign up for a company retirement plan if the benefits meeting content is scaled back, according to a new smart paper by Diversified.
Instead of planning a 45-minute enrollment meeting that allows participants to review the company retirement plan, eligibility rules, employer match, investment options and loan availability, Diversified says less is more. Enrollment success is best achieved in 10 minutes or less.
Diversified says provide new employees with an easy-enroll card. No discussion points and few decision options. The session should not be about reviewing benefits, otherwise enrollment will only be a secondary outcome, according to the report's author Patricia Advaney, senior vice president of participant solutions at Diversified.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
