Sample Employer Implementation Plan

Transcript

1. 
 Page of 1 9 Financial Wellness Implementation Plan For Plan Sponsor A Program to Engage Employees and Improve Financial Wellness | Version One, March 17, 2015 Prepared by Retiremap
2. Page of 2 9 Implementation Plan Table of Contents 1. What the Program Includes 2. Program Phases 3. Calendar of Events 4. Next Steps
3. What the Program Includes Retiremap’s independent financial wellness program is easy to implement and based on best practices from extensive experience. The Retiremap process, developed with leading behavioral economist Dan Ariely, engages employees around their financial goals, shows them how financially on track they are and then provides them with tools and content to achieve their financial goals. Retiremap also makes it easy for employees to either increase their retirement plan savings rate or enroll in the plan. The Retiremap program has evolved into a comprehensive solution that provides Plan Sponsor with:
 ✓ An employer-branded web-based app ✓ An employer-branded iPad app in the App Store and Android app in Google Play ✓ An employer-branded website with educational articles from the Financial Planning Association® ✓ Marketing support, with custom collateral including fliers and desk drop cards ✓ Educational quarterly webinars on issues that employees self-identify through the Retiremap program ✓ Educational email campaigns that engage employees and further increase adoption ✓ An employer Performance Report measuring overall usage metrics, retirement readiness and behavior change ✓ 30 minute onsite workshops for up to 20 employees at a time, using Employer’s branded iPad app The Retiremap Team will coordinate with Plan Sponsor’s Human Resource department and Plan Advisor to ensure the implementation goes smoothly. Page of 3 9
4. Program Phases The launch date is set for Tuesday, April 7, 2015. Below is the high-level breakdown of how we will implement Retiremap. 
 Phase 1 - Launch Launch and Marketing Overall Financial Wellness Benefit Messaging
 The compelling messaging focused on “Plan to Achieve Your Financial Goals” demonstrates the value of the overall program and its mission of helping employees become financially successful and secure. 
 This includes: ✓ Pre-announcement to employees via e-mail at least 2 weeks in advance to promote the iPad Mini giveaway and to get employees signed up for a 30 minute onsite iPad workshop. ✓ Provide employees an online way to reserve a workshop seat and then send a calendar invite and reminder email and/or text on the day of the event ✓ Design worksite posters with Custom URL. View samples here: 
 http://retiremaphq.com/wp-content/uploads/2015/03/iWorkshop_flyers.pdf ✓ Design desk drop cards ✓ Customize the workshop presentation and script Phase 2 - Integration
 Integrate the Retiremap Benefit into benefits communications The Human Resource contact will complete the short online questionnaire (just two questions) here:
 http://retiremaphq.com/new-benefit Phase 3 - Ongoing Engagement
 Marketing of tools and services through an ongoing coordinated campaign The Retiremap team will develop fun, engaging campaigns that get employees to take notice and take action. Branded for Plan Sponsor, the “Plan to Achieve Your Financial Goals” program theme will be included in marketing efforts, as well as a link to the Plan Sponsor branded website. Page of 4 9
5. 
 The ongoing marketing activities include:
 ✓ Sending email activation links to all employees who did not attend an iPad workshop ✓ Running email campaigns promoting the monthly Financial Planning Association® articles which cover different aspects of personal finance and investing ✓ Based on data that employees identify as their important financial goals, Retiremap will host educational webinars on relevant topics and then post the recorded session on the Plan Sponsor branded website ✓ In communications, encourage sign ups for one-on-one sessions with a Plan Advisor representative, wherever appropriate The following pages illustrate the Retiremap implementation timeline, as well as how the program is designed to engage and educate employees on an ongoing basis. A special effort will be made to integrate Retiremap with the great services offered by Plan Advisor, so that employees can receive the maximum impact from the program. 
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6. Calendar of Events The below calendar shows the key dates for the financial wellness program. Page of 6 9 March 2015 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 1w 1w 1w 1w April 7: Launch with iPad Giveaway - iPad Workshops - Promote the iPad Workshops April 2015 S M T W T F S 27 28 29 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1w 1w May 2015 S M T W T F S 27 28 29 30 31 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 24 26 27 28 29 30 31 2 3 4 6 6 June 2015 S M T W T F S 27 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1w 1w 1w 1w July 2015 S M T W T F S 27 28 29 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 1w August 2015 S M T W T F S 27 28 29 30 31 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 June 25: Ongoing Employee Education Quarterly personal finance webinars Week of June 1: Ongoing Employee Education - Monthly personal finance emails, theme of tax savings and tax preparation Week of July 1: Ongoing Employee Education - Monthly personal finance emails Week of August 3: Ongoing Employee Education - Monthly personal finance emails, theme of saving for college Week of May 4: Ongoing Employee Education - Monthly personal finance emails, theme of buying a home March 19: Finalize the implementation plan April 13: Email Campaign #1 - Webinar demo to employees - Email account activation links April 16: Email Campaign #1 - Email reminder #1 March 26: Create Retiremap account & Collateral Development Date TBD Ongoing Employee Education - 2nd onsite iPad workshops May 12: Performance Reporting - Review engagement results #1 March 31: Email announcement to register employees for a workshop date
7. Page of 7 9 September 2015 S M T W T F S 27 28 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1w 1w 1w October 2015 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 November 2015 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1w 1w 1w 1w 1w December 2015 S M T W T F S 27 28 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 20 31 1w 1w September 24: Ongoing Employee Education Quarterly personal finance webinars December 10: Ongoing Employee Education - Quarterly personal finance webinars Week of September 1: Ongoing Employee Education - Monthly personal finance emails Week of October 5: Ongoing Employee Education - Monthly personal finance emails Week of November 2: Ongoing Employee Education - Monthly personal finance emails, theme of ways to save during the holidays Week of December 1: Ongoing Employee Education - Monthly personal finance emails, theme of successful personal finance new years resolutions September 8: Email Campaign #2 - Webinar demo to employees - Email account activation links September 11: Email Campaign #2 - Email reminder #1 January 26: Performance Reporting - Review engagement results #2 January 2016 S M T W T F S 27 28 29 30 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 February 2016 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 1w 1w 1w 1w 1w November 12: Performance Reporting - Review engagement results #2 Week of January 4: Ongoing Employee Education - Monthly personal finance emails, theme of successful personal finance new years resolutions Week of February 1: Ongoing Employee Education - Monthly personal finance emails, theme of successful personal finance new years resolutions
8. Beyond the First 12 Months
 
 After the initial launch and first year, the PlanSponsor’s financial wellness program will continue to evolve in subsequent years through: ✓ Re-engaging employees to track their retirement readiness, get another Starter Roadmap and receive more targeted content to reach their financial goals ✓ Educational campaign focusing on 2nd most important financial wellness issue, based on Performance Report data ✓ New features focusing on HSA and FSA benefits
 
 ✓ New marketing activities to continue to engage employees and grow their financial wellness ✓ Educational campaign focusing on additional key financial wellness issues, based on Performance Report data ✓ Innovative new tools and engagement approaches based on Retiremap’s collaboration with leading behavioral economists Page of 8 9 2016 2017
9. Page of 9 9 Next Steps To finalize the Implementation plan the Retiremap Team needs guidance in the following areas: ✓ Finalizing the marketing theme (currently, “Plan to Reach Your Financial Goals”) and selecting the appropriate imagery to be used in collateral ✓ Guidance on whether to share broad relevant metrics with employees (i.e. “Did you know that 32% of Plan Sponsor employees had the goal to buy a home? You can learn about the actionable steps you can take to accomplish that goal by watching this recorded webinar…”) ✓ Scheduling with Plan Advisor and Plan Advisor to train them on how to leverage Retiremap with individual employee engagements