Worksite Smarter.
Open Enrollment Mastery: Secrets to help increase your participation rates

Posted on: August 20, 2024

As the Head of Worksite New Business Implementation & Enrollment, I've had the privilege of working with some of the most talented benefits producers in the industry. Even the most seasoned professionals are constantly seeking new and effective ways to enhance their open enrollment strategies. And that’s why I want to share some innovative and detailed tips that go beyond the usual advice, designed to help you significantly boost your participation rates this upcoming open enrollment season.

1. Customized Enrollment Experience

   We know from recent studies that employees continue to struggle with making confident decisions about their voluntary benefits. Only 37% of working Americans agreed completely that they had enough information to make their voluntary benefits selections.ⁱ

   Instead of merely tailoring communications, use data analytics to improve the enrollment experience. This means creating customized communications that speak directly to the needs and concerns of your individual clients’ workforce.ⁱⁱ For instance, reinforcing the value of voluntary benefits to employees based on their particular life stage or life situation. Offering one-on-one consultations can also make a huge difference. This not only informs but also reassures them that their needs are being considered.

2. Interactive and Immersive Education

   We also know from recent LIMRA research that employees’ preferred benefit communications methods vary: 46% want emails, 26% want printed material, and 13% want virtual group meetings.ⁱⁱⁱ Move beyond traditional brochures and emails by creating interactive and immersive educational experiences.ⁱⁱ Host live webinars with interactive Q&A sessions and live polls to engage employees actively. Use these sessions to explain complex benefits in simple terms and address any immediate concerns.

   Gamification is another powerful tool—such as quizzes and challengesⁱⁱ that reward employees with points or prizes for learning about their benefits. This can make the process more engaging and enjoyable, but it may be subject to your client’s budget and employee reward guidelines.

3. Behavioral Economics Techniques

   Applying principles of behavioral economics can significantly influence employee decision-making. Present information in a way that sets a reference point for employees. For instance, showing the average benefits selections of their peers can encourage employees to choose similar options. Highlight stories and scenarios where having the right benefits made a significant difference in someone’s life.

4. Leveraging Influencers and Championsⁱⁱ

   Identify and leverage internal influencers and champions to promote voluntary benefits. Secure endorsements from top executives. When leaders visibly support and participate in the enrollment process, it adds credibility and encourages wider participation. Use testimonials and case studies from employees who have benefited from voluntary benefits. Share these stories through internal newsletters, social media, and during enrollment meetings.

5. Advanced Digital Tools and Platforms

   When feasible, implement digital enrollment to streamline and enhance the enrollment process. Ensure that your enrollment platform is mobile-friendly. In fact, 83% of employees prefer this method.ⁱⁱⁱ Employees should be able to review and select their benefits easily from their smartphones or tablets. Use advanced analytics to track engagement and participation throughout the enrollment period. Analyze this data to identify trends, address bottlenecks, and continuously improve the process.

6. Post-Enrollment Follow-Up

   Extend your efforts beyond the enrollment period to ensure employees fully understand and utilize their benefits. Develop post-enrollment engagement programs that provide ongoing education and support. This can include workshops, seminars, and regular communications about how to maximize the value of their benefits. Regularly survey employees to understand their experiences and pain points and use this information to refine future enrollment strategies.

   At MassMutual, we reach out to certificate owners of our Group Whole Life Insurance during the first-year post-enrollment as positive reinforcement of their decisions. We also conduct ongoing trend-following surveys that give us a pulse on how working Americansⁱ are feeling toward their financial stability. You may have heard or follow these monthly surveys already; it’s called the Workforce Financial Stability Score^SM (or the WFSS for short). If you are not subscribed to the WFSS, I strongly recommend it.

   By incorporating these advanced strategies into your open enrollment process, you can significantly help enhance employee engagement and participation. Remember, the key to success lies in personalization, education, behavioral insights, leveraging influencers, advanced tools, and ongoing support. Master these, and you may see an observable increase in your participation rates.