There a disconnect between how employees want to be notified about their company’s benefits and how their employers think their employees want to be contacted according to a recent LIMRA study. The results point to issues which could lead to less engagement and participation in benefit plans like 401ks.
While just 38% of employers think that employees want to communicate using a computer, almost twice as many, or 68% of employees want to engage in this manner. Likewise, a greater percentage of employers think their employees prefer paper than what employees actually prefer digital interaction. In addition, fewer employees want to meet than what employers believe perhaps fueled by younger workers not interested in meeting in person or being contacted by phone. Surprisingly, the LIMRA study communication through mobile devices is preferred.
No doubt that online enrollment makes life easier for employers who prefer not to have to keep track of paper and also transfer information which increases the possibility for error but some companies may be reluctant to move to a more streamlined system for fear that their workforce prefers paper. The disconnect noted in the recent LIMRA study can not only cause increased work, it may lead to less engagement by employees in essential benefit plans like 401ks.
