Mercer Used Personalized Video to Explain Pensions and Engage Employees
World renowned human resources consulting firm Mercer is in the business of helping people engage with and understand their employee benefits. Because what good is a benefit if you’re not taking full advantage of it?
90% of employees ranked pensions as the most important benefit in managing retirement and workforce planning. Yet Mercer observed that pensions receive extremely low engagement due to a lack of understanding and overall poor communication.
In conjunction with leading behavioral economist Shlomo Benartzi, Mercer set out to find an approach to explaining pensions that didn’t alienate or intimidate plan owners. They found that Personalized Video was the key to empowerment and clear pension communication.
By combining behavioral science with modern technology, Mercer implemented Personalized Videos as an effective way to streamline information and visually engage viewers on a one-to-one level, with 80% of viewers watching their video to completion. Individuals were targeted with information specific to their plan while simultaneously empowered to easily make changes in real time. The combination of personalization and timing offered by video proved to be the “secret sauce” in drastically improving overall pension engagement.
Viewers felt like they not only understood their specific pension plan, but could fearlessly make adjustments to maximize their retirement savings. Personalized Video proved to be the key to unlocking clear pension communication.
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