Jon Bryant, employee benefits consulting director at JLT, talks to Debi O’Donovan, editor of Employee Benefits, about using member data (also known as management information) to engage staff in their pension plan.
Firstly, employers need to get the data into a single database, then they need to hit the right people with the right message at the right time.
But a key challenge for employers is to control and keep that data up to date. If they can get that right, then they will have the process under control.
Jon Bryant under estimates the importance of building a culture of trust. Employees need to trust the employer with their personal data and how it will be used. It is a classic error to think that data collection and a clever admin system will provide effective communication. Trust, culture, segmentation, perceived benefit and desired outcome, all need to be carefully considered before thinking of collecting employee data and chucking it into any admin system with the hope of then being able to communicate better with employees
The key point being addressed here is the management of the data. Who is in ultimate control of it and where is it centrally held as a “one true source”. If there is a single point of access for up to date, accurate information then great; Pensions, Auto-enrolment, Benefits, renewal administration, TRS etc can all be managed but the power behind a one true source can be utilised to actually contact employees with relevant information to them and not bombard them with blanket communications to tick a box or satisfy “statutory obligations”. Obviously there is work to be done to fulfill employee duties but that should be the first step in a long journey to engaging, motivating and informing employees on their choices.