ROCHESTER, N.Y., Nov. 15, 2011– As
millions of Americans finalize their annual benefits selections this week,
employers should take note: there’s an opportunity to boost employee retention,
productivity – and ultimately the bottom line – with simple, personalized and
interactive ways to deliver employee information.
HR experts at Xerox Corporation (NYSE: XRX) say engaging
employees throughout the year, but particularly during the open enrollment
season, is essential for keeping employees happy and productive. Employees who
don’t feel their employer understands their needs can be costly – according to
Gallup, the cost of disengaged workers is estimated to be more than $300
billion annually in lost productivity for U.S. businesses.
For companies looking to improve
the way they interact with employees for next year’s open enrollment period,
Xerox offers the following tips:
- Know
the audience:
Each interaction with an employee – by phone, email or face-to-face – is
an opportunity to learn more about life stages, attitudes, needs and
preferences. This information should be collected, tracked and used to
motivate employees with more relevant communications.
- Get
personal: While
most open enrollment information appeals generically to a mass audience;
employees are more likely to act if the company personalizes documents,
e-mails, etc. with variables such as the employee’s name and life events
like marriage or the birth of a child.
- Be
creative:
Employees are more responsive to informal communications from their
employer. Experiment with virtual benefits fairs and training courses to
allow employees to connect with benefits representatives and learn about
options when it’s convenient for them.
- Mind
the channel:
Not all employees prefer the same communications channels (direct mail,
e-mail, online, mobile), so deliver information through their desired
channel, in terms they understand, at a time when they are most likely to
take action.
- Educate: Wellness programs are
key to reducing health care costs for both employers and employees, while
improving productivity and reducing absenteeism. These programs improve a
company’s bottom line and should be clearly communicated to employees, who
may not be aware such resources exist.
- Keep
it simple and relevant: Too many choices and information overload actually
impair an individual’s decision-making ability. Simplify the benefits’
decision-making process by providing relevant examples and incorporating
individualized data to explain their options.
- Stay
ready for reform: Outsourcing helps employers comply with new healthcare
regulations and reforms, navigate complexities, simplify delivery to
employees, and identify potential savings.
“Research demonstrates that engaged
employees are more productive, more customer-focused, more profitable, safer,
and less likely to leave. That translates into millions of dollars for
companies that communicate in a way that keeps employees engaged,” said Scot
Marcotte, managing director of talent and HR solutions, Buck Consultants, A
Xerox Company.
Buck Consultants helps companies
engage employees and boost open enrollment, 401(k) and wellness program
participation – with tools like a secure online portal for a “one-stop benefits
shopping experience” using targeted messaging and a personal action list to
make it easy for employees to get the most out of benefits and cost-saving
opportunities.
Through Buck Consultants and ACS, also a Xerox company, Xerox partners
with HR departments to transform their benefit services
into more efficient operations, managing benefits for nearly 10 million
employees and retirees around the world. From strategic HR assessments to plan
design and implementation and employee communication, Xerox is delivering
strategies to better engage employees and simplify benefits selection across 80
countries in 20 different languages.
About Xerox
Xerox Corporation is a $22.5
billion leading global enterprise for business process and document management. Through its
broad portfolio of technology and services,
Xerox provides the essential back-office support that clears the way for
clients to focus on what they do best: their real business. Headquartered in
Norwalk, Conn., Xerox provides leading-edge document
technology, services, software
and genuine Xerox
supplies for graphic
communication and office printing
environments of any size. Through ACS, A Xerox Company, which Xerox
acquired in February 2010, Xerox also offers extensive business process outsourcing and IT
outsourcing services, including data processing, healthcare solutions, HR
benefits management, finance support, and customer relationship management
services for commercial and government organizations worldwide. The 134,000
people of Xerox serve clients in more than 160 countries. For more information,
visit http://www.xerox.com, http://news.xerox.com, http://www.realbusiness.com or http://www.acs-inc.com. For investor
information, visit http://www.xerox.com/investor.
