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How Employers and HR Managers Can Better Incentivize Voluntary Benefit Registration

How Employers and HR Managers Can Better Incentivize Voluntary Benefit Registration
From Recruiter - August 8, 2017

Voluntary benefits (VB) are the puzzle pieces that complete your core benefit offerings, thereby comprising a fully developed financial wellness package. Just like core benefits, many VB programs provide the incentives of additional financial savings, reduced underwriting, and ease of enrollment when purchased through anemployer. Aligning core and VB programs as a unified package will help employees understand how these programs work and the value they provide.

To communicate the value of VB programs, human resource teams must demonstrate the price perception of the benefit. Price perception is not just the expense, but the perceived value of protecting loved ones and having financial security. This emotional value can outweigh the dollar amount, especially if employees understand how group underwriting and employer benefit pricing works to their financial advantage.

Insurance can be complicated, but leveraging the emotional connection of real-life examples will help employees personally relate to the protection provided by products like identity theft, legal insurance, and critical illness. It is best to utilize personal stories, statistics, and simple infographics to communicate the plan design and financial value of enrolling through an employer. Employees look to human resources to be the expert here. The more you can help connect a personal need to the program, the more likely employees are to enroll.

Once youve developed the content to communicate, your next step is to determine how, when, and where to deliver the information. From firsthand experience, I can say it is helpful to use marketing plans that provide educational materials at key milestones and consistent, clear information during enrollment.



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