Open enrollment (OE) meetings are intended to educate employees about their benefits in an effective and efficient setting. Perhaps meetings were once the best approach. But times change, and today employers typically offer many more benefit choices, with more complex variables, and the potential for far greater employee financial liability.
We all know the challenges with open enrollment meetings – voluntary/poor attendance, information overload that cannot be delivered to meet personal interests or priorities, and lots of jargon. And think about the time and money that goes into OE meeting planning and execution. A conservative estimate suggests that an Open Enrollment meeting costs at least $50 per employee--that’s $4.00+ PEPM!1
It’s 2018, so we know there is a better way. We are accustomed to seeing our content “on demand” and organized to our preferences. A recent survey of employees revealed that fewer than 30% of employees consider enrollment meetings the best way to receive benefits info; and 60% thought electronic delivery (videos, tools, calculators) was the number one strategy. To help you deliver enhanced educational and communications strategies, consider these alternatives to the open enrollment meeting:
Is your budget holding you back? Do the quick math on the productivity and expense savings from cancelling OE meetings and reinvesting in benefits communication and decision support technology. Your employees will thank you, and so will your CFO.