From the course: Helping Your Employees Meet Retirement Goals
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How to engage in retirement language with employees
From the course: Helping Your Employees Meet Retirement Goals
How to engage in retirement language with employees
- Financial language can be difficult to decode. And some of that is by design. If you make things difficult to understand people may be confused. And there's opportunities in that confusion, especially when there's fees involved. So when you're managing a retirement benefit plan, keep it simple. Then communicate the details in a way that's understandable, positive, and encouraging. Try not to use words like elections, deferrals, and contributions. Talk instead about joining the program and how much of your paycheck do you want to deposit and take the first step to retirement? Decode the language. Lead with the concept in simple terms. Then make the required task understandable and encouraging. Create a shame-free glossary. Make it easy for your employees to understand technical jargon. Also make sure to set clear expectations up front. Let your employees know what actions they need to take to fully utilize their plans and what resources are available to help them move through each…
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