Chapter 8

Measurement And Feedback

What is the shortest word in the English language that contains the letters abcdef? Answer: feedback’. Feedback is one of the essential elements of good communication.
Anonymous

Communication is a two-way street. We need to listen to people, as well as talk to them, and in particular the young, who will be living and working longer. Part of that conversation is about listening to feedback. Using data analytics will also be critical in helping us to harness new technologies and look to the future to create engagement in pensions, as well as shape messaging for different generations of people in work.

Matthew Doyle
Non-Executive Director, consultant on responsible investment and stewardship

Our research shows that pension schemes are struggling to determine whether their objectives are useful and that relatively few plans measure overall engagement.

Engagement is an outcome of good communication. So, what is pension engagement and how could we/should we measure it?

Our definition of pensions engagement
Pensions engagement is the emotional commitment a person has to save for their life after work. It means the person wants to save and takes actions to do so. Whilst auto-enrolment has increased the number of people saving it hasn’t improved engagement – if something happens automatically people feel less compelled to engage and take action.

When you are putting money into pension communication, take the time to plan how and when you will measure effectiveness. To do this you need to start by setting an objective to measure against. Measurement needn’t be complicated – here are our 9 top tips.

10 Top Tips for Measurement

Top tips

Plot each communication item using a simple three-tier system using the data you have collated above. Was it highly useful, or was it on the low side? A simple three-tier ranking system could provide a simple and consistent benchmark against which to measure individual campaigns, communication interventions and channels as well as other scheme activity.