How is participation in your employee stock purchase plan (ESPP)? If the answer is something other than good or great, it might be time to reassess or fine-tune your education initiatives. This article will outline ways to turbocharge your ESPP education, whether you're hoping to increase enrollment in your plan, renew interest in it or inject some newness into your communications campaign.
To start, consider a few basic questions: why do you want to promote your plan (identify your purpose); what do you want to communicate (what's your message); and what is your communications objective (raise awareness and/or impart information)?
Why do you want to promote your plan?
What you might want to say depends on what you're trying to accomplish with your education initiative. For instance, your focus might be employee engagement. To this end, studies show that employees who participate in an ESPP versus those who do not, work longer hours, are absent less frequently, are less likely to quit and express greater job satisfaction. In other words, offering an ESPP can lead to a better, more engaged, more valuable workforce. Identify the reason(s) you want to promote your plan, such as the above, and incorporate them into your messaging.
Studies show that employees who participate in an ESPP: