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2020 Signature Award Winners - Plan Changes, Small Company

Plan Changes – Small Company (5,000 employees or fewer)
Change – even change for the good – can be difficult for workers to absorb and embrace. Plan Changes – Small Company involve announcing and facilitating changes in plans with 5,000 or fewer employees in a way that is easy to understand, educational, and engaging to employees. These communications will effectively explain how the change benefits the employee or effectively handle changes that may not be improvements to the participant.

Plan Changes – Small Company
1st Place – Mountaire Corporation with Lincoln Financial Group

Mountaire Corporation is the seventh largest agricultural food processing company in the nation with 33 facilities across the country and more than 8,000 employees, half of whom are originally from other countries.
Mountaire wanted to make it easier for employees to engage with the retirement plan by consolidating account tracking. They also wanted to increase the number of employees using the plan’s website. To accomplish these goals, they leveraged their understanding of the cultural diversity of their employees and the variety of languages they speak. Based on past years’ campaigns they knew to create materials in the three main languages spoken by the population. The materials included posters, a mailer, a tri-fold card placed near computer kiosks and a step-by-step guide for HR departments. The campaign resulted in a 76 percent increase in online registrations, 82 percent increase in log-ins, 96 percent increase in page views, and 526 contribution changes. They are a winner because of their excellent print campaign in multiple languages that achieved great results.

 

2nd Place – Bose Corporation with Empower Retirement
Bose Corporation, manufacturer of audio products, has more than 3,000 employees including engineers, developers, researchers, retailers, and marketers.
The campaign’s objective was to effectively communicate the plan’s addition of Roth contributions. The company held a benefit fair and sent a postcard and emails, using branding that tied in with the company’s products. They told employees to “Amp Up Your Savings with ROTH” and used an animated gif to make the words “amp up” pulse. This campaign resulted in email open rates of 21-37 percent, click through rates of 2.5-7.16 percent, with four percent of employees electing Roth contributions. They won because the animated image used speaks to their business using a fun sound wave look and they incorporated multiple avenues of communication.

 

3rd Place – Palm Beach Sheriff's Office with Lincoln Financial Group
Palm Beach Sheriff’s Office (PBSO), is the largest law enforcement agency in Palm Beach County with 3,906 law enforcement, corrections, and civilian employees.
The goal was to effectively communicate an account management change from an internal self-service system to Lincoln Financial, along with providing savings tools available through Lincoln that could help their employees maximize their savings potential. They had to overcome the challenge of privacy issues with a law enforcement population when mailing to homes by excluding the employer’s name, logo or the plan name on any print pieces. The materials used were a postcard mailed to homes with no sheriff’s office branding, emails, a Brainshark video, and how-to-guides on their intranet. The results were that web usage increased from 65 percent to 75 percent and the average contribution rate increased by 4 percent. New hires during the first six months had an 80 percent participation rate. This campaign was a winner because the organization understood its culture by using discreet mailings that did not call out their employer and they achieved good results.