Boosting the Effectiveness of Retirement Plan Communications
Cutting back on jargon and delivering communications where participants want to receive them can help put employees on the right track.
Words have the potential to inform, encourage and empower. But the wrong words can be powerful in negative ways, leaving people uncomfortable, overwhelmed or confused. Using the right words is especially critical in financial matters. In fact, original Empower Retirement research has found that many terms frequently used in the industry simply don’t make sense to savers. However, the research also revealed some good news: Even small tweaks can help break down complex ideas and make important financial information accessible to plan participants.
Employers can support their participants by making their retirement communications easy to understand and free from jargon, then delivering them via the method of communication employees prefer.
- Financial matters are complex and confusing for many people.
- Many employees find that common finance language is full of jargon and lacks clarity.
- Providing employees with clear information via preferred channels can help them be well-informed about their options and confident in their decisions.
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