When it comes to oral or written communications, it\u2019s important that you play to your audience. Any communication that is above or below the audience\u2019s comprehension is going to be a missed opportunity to communicate your message.<\/p>\n
When it comes to 401(k) plan meetings with plan participants for enrollment or reenrollment, the fact is that most of them suck.<\/p>\n
The greatest education I ever received wasn\u2019t at law school and it wasn\u2019t working as an ERISA attorney for 9 \u00bd years working for third party administration firms. My greatest education was being involved in student politics and journalism at the State University of New York at Stony Brook (which is now called Stony Brook University).<\/p>\n
One of the simplest lessons I learned was from Ron Nehring, who has been a friend of mine for over 25 years and he basically told me that the goal of any organization in recruiting new members is getting them involved. I joined Ron\u2019s political organization because they got me interested, got me involved, and kept on contacting me about other events. The Jewish students organization that I was going to be heavily involved had a barbecue the weekend before freshman year started. I arrived 15 minutes late and there wasn\u2019t anymore food available. I was offered a bagel and people who certainly weren\u2019t Jewish were enjoying a nice Kosher hot dog or hamburger. Needless to say, I didn\u2019t get involved much there.<\/p>\n
The point is that most 401(k) plan meetings suck because they really aren\u2019t geared towards plan participants. The advisor conducting the meeting is giving the basics of investments and plan features that isn\u2019t interesting or inspiring. The meetings tend to be really dry when they don\u2019t have to be. I\u2019ve been at funerals that have been more livelier than enrollment meetings.<\/p>\n
How would I liven up an enrollment meeting?<\/p>\n
1) Raffle off a $25 gift card at every enrollment meeting. People like free stuff and if they know then can win something by attending, they will. Of course, have the raffle at the end of the meeting, so it ends on a good note.<\/p>\n
2) Presentations need to be clear and crisp. Less is more. Powerpoint presentations and slide handouts shouldn\u2019t be overloaded on details. Illustrate the important points.<\/p>\n
3) Add humor and cultural references. With apologies to my former managing attorney who wouldn\u2019t know good marketing if it was standing behind her, adding humor and cultural references goes a long way. My articles aren\u2019t widely read because of my rugged good looks or lack thereof. They are widely read because the humor and cultural references engage the reader into reading what should be a dry topic, i.e, the ins and outs of retirement plan sponsorship.<\/p>\n
4) Break it down. Again, my writings are written in easy to understand English, not what I call ERISAese. The easier for plan participants to understand what you\u2019re saying, the more likely they will remember what you\u2019re saying.<\/p>\n
5) Keep it short. Spend more than a half hour or hour, you will lose your audience. Again, less is more.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" When it comes to oral or written communications, it\u2019s important that you play to your audience. Any communication that is above or below the audience\u2019s comprehension is going to be a missed opportunity to communicate your message. When it comes … Continue reading