To help employers achieve a successful Fall Enrollment season, insights from MetLife’s 11 th Annual Employee Benefits Trends Study reveal six simple strategies that can help increase employee participation and deliver a better return on a company’s benefits investment. “Our research indicates that the majority of employees are on ‘autopilot’ when it comes to enrolling in the employee benefits provided to them through work. As a result, when employees simply roll-over the previous year’s selections, they are often missing out on important new coverage options and potentially leaving money on the table,” said Michael Fradkin, Senior Vice President, Voluntary & Worksite Benefits, MetLife. “There are also significant advantages for organizations when their employees take a more active role in their benefits enrollment. Employees who actively engage in reviewing and evaluating their workplace benefits options are three times more likely to be satisfied with their jobs, and more than twice as likely to recognize and value the benefits offered through their employer.” MetLife Highlights Six Key Strategies to Drive Employee Enrollment & Encourages Employees to “Stop. Watch. Enroll.” Nearly one-in-three employees are not engaging in their annual benefits enrollment, and less than half (42%) of employers are very satisfied with employee participation in voluntary benefits. MetLife analyzed data from the study to identify several strategies that employers can use to drive participation during this enrollment season.
|1.||Upgrade the Enrollment Experience: Employers that recognize the importance of a good customer experience during benefits enrollment and upgrade their experience to meet the expectations of today’s employees will see increased engagement. Nearly half of employees who are engaged in benefits enrollment say that their employer’s benefit enrollment process offers a customer experience comparable to the best online shopping experience.|
|2.||Use a Simple and Straightforward Enrollment Process: Complicated processes can deter employees from participating in benefits enrollment. Companies that focus on making the process simple and accessible, with easy-to-use decision-making tools, can see a payoff in the form of increased engagement.|
|3.||Aim for Online Enrollment: Forty-two percent of employees say they prefer online enrollment, yet only 35% had the opportunity to do so at their company. Online enrollment is more likely to be characterized as simple and straightforward compared to paper or phone enrollment.|
|4.||Communicate Clearly: Communications are compelling when they demonstrate that the company knows its employees. More than half (54%) of engaged employees say it’s very helpful when benefits materials provide personalized information reflecting their needs and life stage.|
|5.||Communicate Frequently: Engagement increases when employers communicate about benefits throughout the year, with 43% of engaged employees saying that ongoing education about how to use their benefits would be very helpful.|
|6.||Foster Feedback: Proactively seeking – and incorporating – employee feedback on the enrollment process can foster greater employee engagement. Four in ten engaged employees indicated that their employers obtain feedback on how to improve benefits communication and processes compared to just 17% of non-engaged employees.|
About GfKGfK is one of the world’s largest research companies, with more than 11,500 experts working to discover new insights into the way people live, think and shop, in over 100 markets, every day. GfK is constantly innovating and using the latest technologies and the smartest methodologies to give its clients the clearest understanding of the most important people in the world: their customers. To find out more, visit www.gfk.com/us or follow GfK on Twitter: www.twitter.com/gfk_en. About MetLife Metropolitan Life Insurance Company (MetLife) is a subsidiary of MetLife, Inc. (NYSE:MET), a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.