Maximize engagement for your 2024 benefits enrollment

Benefits enrollment rolls around each year, but you may not be recognizing the rare chance to engage with employees in a space that makes a real impact. Benefit programs are a key touchpoint for attracting and retaining talent, and benefits enrollment offers an annual opportunity to enhance the employee experience through an effective communication and engagement strategy.

In WTW’s most recent Global Benefits Attitude Survey, nearly half (48%) of employees felt their health care plan was an important factor in why they chose to work for their current employer. Even more (60%) felt their health care plan was also an important reason to stay with their current employer. The way you present benefits to your employees could be a make-or-break difference.

You have an opportunity to actively engage with your employees through an annual benefits enrollment strategy – one that showcases the expansive value of the available benefits and helps them make smart decisions for themselves and their dependents.

Provide benefits education to demonstrate choice, flexibility and value.

Eighty-eight percent of employers are planning to make changes to their benefit programs over the next few years. This can make it complex for employees to decide what benefits are right for them. That’s why it’s important to highlight annual enrollment as an opportunity to evaluate their options and make changes.

For upcoming annual benefits enrollment, the current economic environment is top of mind. Employers are struggling to retain costs, while employees continue to face increases in everyday expenses. To help employees maximize value and feel protected through their benefits, employers are making changes to how they position and communicate their benefits.

Make sure your employees know the value of their benefits, and what’s available to them. Only 40% of survey respondents reported feeling they selected the best option available. Employers are sharing information and providing decision support tools that can prevent employees from over-insuring themselves. Increased understanding helps employees get the best value out of their benefits and manages costs while continuing to offer appropriate protection.

Feature benefits that enhance protection and provide more savings.

Increasing awareness of voluntary benefits allows employees to take advantage of protections such as life, disability and pet insurance. These benefits offer financial protection and stability for whatever life throws their way, and tailors each employee’s benefit package to their unique needs.

Take time to highlight important benefits that can help employees in times of hardship, including EAP resources and mental health benefits. The mental health crisis has worsened since the pandemic, and employers are using benefits enrollment to reinforce their commitment to emotional wellbeing by highlighting the available mental health and wellbeing resources.

Promote benefits that address financial concerns, such tax-advantaged accounts and any financial counseling resources. Almost half (45%) of employees consider value for their dollar when determining whether a benefits package meets their needs. With living expenses on the rise, it’s important for employees to understand their options for extending the power of their dollar.

Build connection points into your communications strategy.

Post-pandemic, employees are finding it challenging to engage with employees split between remote, hybrid and on-site work. Meet employees where they are with meaningful tools and resources. Employers are taking advantage of virtual benefits fairs and mobile-friendly channels to engage with employees on the go and when it works best for them. Include QR codes on communications so employees can reach information quickly, and employ simple tactics such as postcards, digital signs and banners to connect with employees.

Communications that point to relevant tools and information will empower your employees to make smart decisions about their benefits. It’s important to make it readily available to allow employees to discuss with their family members and dependents. With decision support tools, employees can receive personalized recommendations for benefits, or even compare plans and associated costs. Extra guidance helps employees align their needs and priorities with enrollment decisions.

Read more: How to increase benefits ROI during open enrollment

Annual enrollment is an important touchpoint to help employees maximize benefits and their employee experience.

Proper engagement is the key to attraction and retention, and it could be the reason someone chooses to stay with your organization. Think strategically about your annual benefits enrollment, taking special care to use the right tools to reach employees and give them the right information. Use this annual opportunity as it allows you to engage and empower your employees through benefits – make it a moment that matters.

Casey Hauch, managing director, Employee Experience, WTW