Wars have been started over words, and retirement outcomes for employees can also be impacted by words. My guest today, Steve Jenks, a Senior Vice President and the Chief Marketing Officer at Empower shares his over 20 years of experience on how word choice can make a big difference to someone’s ability to retire. Key words you find commonly in retirement plan communications like match, assets, participants, deferral percentage don’t have the meaning or impact you think it should have with your employees. We also hit on the differences in impact of illustrations vs. words, the importance of keeping calls to action simple, how automatic plan features have changed communications, measuring results, social media strategies and much more. Also, he had a surprising conclusion on how employees like to receive information about their retirement plans and their desire for in person meetings, don’t miss that.
Steve also references a few white papers from studies he and his team have conducted at Empower. You can find links to those along with his answer to a bonus question, the transcript from the episode and much more at www.401kfridays.com/words.
Guest Bio
Steve Jenks is Senior Vice President and Chief Marketing Officer for Empower Retirement and Great-West Financial®.
Steve has 28 years of marketing, product and business leadership experience. He joined Empower and Great-West in 2014. Previously, Steve served as Head of Defined Contribution Product and Marketing for Putnam Investments, where he helped shape and execute growth strategies for the organization’s defined contribution, investment-only and rollover businesses. Steve began his investment industry career in 1990 with Fifth Third Bank. From there, he held leadership roles in marketing, product, finance and relationship management for Fidelity Investments from 1992 to 2009. Steve also co-founded Acceleration Retirement, a marketing analytics and outsourcing firm, and Stable Two Financial, a registered investment advisory company. He served as CEO of both companies.
Steve holds a bachelor’s degree with distinction in business analysis from the Indiana University Kelley School of Business. He is a registered representative of GWFS Equities, Inc. and maintains FINRA Series 6, 26 and 63 securities registrations. Steve is currently on the boards of the American Red Cross, Mile High Chapter; Big Brothers Big Sisters of Colorado; and Court Appointed Special Advocates for Children (CASA) Colorado.
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