Five Winning Engagement Strategies to Maximize Plan Participation

Communication is key to success and this is certainly true for global equity plans. Share plan teams are challenged with geographic, linguistic and cultural challenges that can only be solved by truly effective communications.

We discovered trends in our GEO award winners’ communication strategies and have identified examples of the tried and tested approaches that provided the biggest impact on their employee experience, corporate culture and plan engagement.

Are you looking to breathe new life into your communications and modernize your share plan experience?

Read on for working examples of how to drive participation and ownership culture through great plan communications.

1.?EMPLOYEE-CENTRICITY IS KEY

Not losing sight of your employees is crucial to driving engagement and providing a great ownership experience. Examples of personalization, segmentation and accessibility were threads that appeared throughout the winning entries. Unilever created personalized vesting videos for its employees across 80 diverse countries and Alcon created 2,300 tailored statements with before and after spin values. Sage Group encouraged participation by creating campaigns with messaging that resonated with employees in different locations. Pfizer helped their participants by using color-coding to signpost through complex information and most winning companies offered plan materials in different languages. All exceeded their participation rate goals by placing the employees’ needs at the heart of their plan communications.

2. LISTEN TO YOUR DATA

When you gather, understand, and use employee data to shape your communications strategy it can yield great results. easyJet analysed plan data to identify and target non-engaged groups of employees with bespoke communications. Uber used survey data to refine the customized tools and educational resources it used to communicate each plan milestone. Similarly, survey findings and feedback helped Aviva to make changes to technology, communications, accessibility, and their financial education offering.

3. MAKE IT MEMORABLE, SIMPLE AND CONSISTENT

It’s important to ensure plan communications cut through the noise of other corporate messages. Uber carefully sequenced and repeated their plan information for best impact. Catchy slogans and eye-catching campaign materials such as the Nokia Share in Success campaign’s ‘you, you and you’, and Allianz’s fun, squirrel theme proved that a little creativity goes a long way. Quirky tactics such as the Sage Group’s desk drop popcorn, Generali’s ambassador sweatshirts and TMX Group’s ‘did you know’ screensavers keep plan campaign messaging front of mind.

4. EXPAND TO NEW CHANNELS TO EXTEND YOUR REACH

Offering an omni-channel experience that ensures plan communications are accessible is important for engagement. When homeworking became the norm, TMX Group quickly moved their materials to the digital space through a live launch on Google Hangouts, personal orientation session, targeted emails for new employees, screensavers and online help guides. Other award-winning companies also focused on convenient access to plan information via microsites, help resources through dedicated telephone and email helplines, and alternative channels like Nokia’s chatbot ‘Ziggy’ to field participant queries.

5. CREATE INTERNAL INFLUENCERS

Endorsement from a company’s leaders can be powerful for employees. Generali’s top-down approach included a letter and video from their CEO and recruitment of local ambassadors to champion the plan and encourage engagement. The Sage Group included participant testimonials in their suite of comms and Allianz led from the front with a series of leadership videos.