Best-In-Class Practices for Maximizing Benefit Enrollment
Employee satisfaction is at a decade low, and benefits satisfaction has dropped to 61% in 2023.
Two of the biggest contributors to this phenomenon are:
- Employers not being able to meet employees' evolving expectations quickly enough. Employees are looking for an experience that matches their personal needs. Those needs are as diverse as themselves, and they evolve with their lives.
- A disconnect between what employers offer, and what employees perceive receiving. While employers keep making huge investments in benefits, 42% of employees say they don’t feel cared for by their employer.
This is why best-in-class employers know that benefit enrollment is not just a time for employees to select the benefits they desire from their employer, but also an opportunity for employers to demonstrate how much they truly care for their employees.
Here are some best-in-class practices for maximizing benefit enrollment season:
1. Frame Your Communications to Emphasize You Care
Employers invest a substantial amount of money to offer benefits because they care for employees’ wellbeing. However, benefits are often presented as a boring list of changes to last year’s offerings, and a tedious task to complete. There is usually little emphasis on the value they provide.
Us HR professionals can take a note from the marketing and sales teams. While there is still a need to communicate when open enrollment starts and ends, and if there are any changes this year, it is just as important to make it easy for employees to understand the value this brings to them.
Instead of opening communications like this:
“Hi [Name],
It’s that time of year again: open enrollment starts in two weeks. It runs from (start date) to (deadline date).
During open enrollment, you’ll be able to select your healthcare coverage and other benefits.”
This is a perfect opportunity to create context, tie to your values, mission, and emphasize you care about them like this:
“Dear [Employee First Name],
Our mission at [employer name] is improving the life of every child through exceptional care- it’s you who makes this possible. This is why we are committed to helping you and your loved ones thrive with a Total Rewards package that fits your needs, including benefits.
In two weeks you will have an opportunity to choose the options that make the most sense for you during annual benefit enrollment.”
In the same vein, highlight how a new benefit or a benefit change brings them value. Instead of saying something like this:
“Health Savings Accounts have a higher contribution limit of $X.00.”
Say this:
“More Savings for Medical Expenses: This year you can contribute $X.00 more to a Health Savings Account. This is great news if you are an HSA user because pre-tax funds means saving on medical expenses later.”
Maximizing with Maxwell: With Maxwell you help reframe benefits from the moment employees onboard on to the white-labeled app, by using the power of behavioral science. Whether you are using just the recognition features, the lifestyle benefits account, or the full suite, getting access to Maxwell is framed as something they receive because you want them to better balance and create daily moments of joy. Every time they use the app they are reminded of how much you care for them.
2. Use a Multichannel, Multimedia, Multi Touchpoint Approach
Reaching all employees, and ensuring they see the value that the benefits provide them requires a multichannel approach. It is not sufficient to rely on email, in particular if you have employees that spend little to no-time at their desk (e.g. nurses and physicians). The best communication strategies include:
- Intranet
- Digital and physical signage
- Chat (Teams, Google Chat, or Slack)
- SMS notifications
- Even in person meetings
It also includes multiple types of communication. Text is great for most communications, but in a world where we are overwhelmed with information, including graphics and videos can help break the content, and meet different learning styles.
Lastly, open enrollment requires multiple touch points. Here is a sample timeline:
- One Month Before Deadline - Save the date communications
- Two Weeks Before - Pre-open enrollment
- Two Days Before Deadline - Reminder that time is running out
- One Day Before Deadline - One last reminder
Maximizing with Maxwell: With Maxwell you can make announcements about benefit enrollment in an app that employees actually visit (we have 93% utilization) and track engagement. They will even receive an SMS alerting them that there is important information for them on the app. This is a benefit for you because we reduce your administrative load, and expand the reach of your communications.
3. Highlight Benefits Year Round
Speaking of timelines, a successful benefit strategy doesn’t stop with benefit enrollment. Making sure benefits stay top of mind, and providing ongoing support throughout the year is key to ensuring employees are getting the most of of their benefits.
Best in class HR teams continue communicating about the value of the benefits they offer throughout the year at key times, using the same multi-channel, and multi-media approach.
Some examples of this approach are:
- Highlighting EAP programs at times of high-stress like the holiday season
- Talking about key aspects of their dental and vision insurance at the end of the summer when many families do children check ups in preparation for back to school
- Inviting people to participate in preventative care at the beginning of the year when most employees set health goals for themselves
Maximizing with Maxwell: Highlighting your benefits year round is easier with Maxwell because it is a tool dedicated to delivering the employee value proposition you have worked so hard to build. In addition to announcements the Benefits+ tab has the option to list all the benefits you offer so employees can learn about them any time, and from anywhere. The result employees that feel cared and stick around.
When organizations genuinely demonstrate care for their employees, they are much more likely to increase employee satisfaction. Benefit enrollment is the best time to reframe how you present your benefits package, and keep top of mind of employees how much you truly care for them.