THIS IS QUEENSBOROUGH
queenschamber.org
EXPERT ADVICE
MORE EFFECTIVE OPEN ENROLLMENT BY GLYNIS ROBERTS Just the thought of an approaching open enrollment period can cause stress for employers and their workers. But with proper planning and a well-developed strategy, open enrollments can be organized, effective and a positive experience for all involved. First, the development of a detailed timeline well in advance of the start of open enrollment season is a must to assure a well-designed process. The employer and their benefit consultant can analyze the company’s specific objectives, style and demographics to develop a customized approach. Included in this stage should be the scheduling of webinars, benefit fairs, seminars and opportunities, as applicable. Likewise, the framework of an employee communication campaign can be developed, leaving specific details (like plan data, contribution schedules, etc.) to be inserted at a later time. As soon as renewals are made available by the carrier(s), plans and contribution schedules can be selected by the employer and a communication piece should be distributed to all employees outlining the planned process, any critical information and any important dates and deadlines. Benefit plan and contribution information should be presented to employees in a manner that encourages employees to become engaged in the process. The communication material should present the range of benefit details in a simple, understandable and even exciting, if possible, manner customized as much as possible to the profile of employees in each organization. This year especially, for meetings, online presentations and when preparing communication material in general, employers and HR personnel should also be sensitive to the challenges that have faced employees and their resultant fears and anxieties.
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By focusing on the tone and positioning of benefit communications with an acknowledgement of the struggles employees have faced within their families in light of the pandemic, company leaders can demonstrate a true concern for the physical and mental wellbeing of their staff. In today’s world, technology is everywhere and open enrollment season should find it being used whenever possible. And whereas prior to the pandemic it was common for insurance brokers to present the open enrollment benefit package through in-office meetings, with the challenge of bringing workers together this year virtual meetings will again be the norm. In addition to these virtual meetings, the distribution of supporting materials through emails, electronic newsletters and videos can also be utilized.
Most benefit administration programs also incorporate an online open enrollment portal that once only available to large groups, is now available to groups with just a few employees as well. The bonus of utilizing an online platform is that employees can access all information remotely and electronic messaging, alerts and materials sent through the system can be tracked and archived. Additionally, in many cases, the eligibility and enrollment data submitted by the employees can usually be sent electronically, direct to the insurance carriers. All these tools can enhance the experience for today’s technology-oriented workforce and help to streamline the entire process. Finally, once open enrollment is completed and everything settles down, the process can be reviewed and employee feedback solicited in order to better understand the components that worked well and those that didn’t. In this way, the experi-
The Queens Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at qcc.mybenefitadvisor.com or contact Glynis Roberts at (212) 706-9451. ence can be further perfected for the following year’s open enrollment season.
BUSINESS TIPS FROM MICK JAGGER BY ROBERT INTELISANO Earlier this month, I had the pleasure and privilege of flying to Pittsburgh to see the Rolling Stones play an outdoor concert at Heinz Field. One of my favorite rock bands, I saw the Stones on their 1989 Steel Wheels tour in Philadelphia and at the MGM Grand Hotel in Las Vegas, to name a few. That 1989 tour is when the Stones changed what was a typical stadium tour into a theatre-like setting. Other than perhaps Kiss, the Rolling Stones have mastered the marketing of their brand and logo, namely the famous big red lips and tongue. For Mick Jagger and the Rolling Stones, rock and roll is big business. The Stones last played Heinz Field in 2015. Their revenue from that 2015 Pittsburgh show was $9,000,000 from the 50,000-plus fans that attended.
Mick Jagger, arguably the best front man in history, is what makes the Rolling Stones different from all other bands. Few people know that Jagger spent some of his teenage years studying finance and economics at the prestigious London School of Economics before quitting school to start a band. Most bands concentrate on their craft and leave the day-today business operations to their agents. Not 78-year-old Mick, whose net worth is over $360 million. The Rolling Stones operate like a well-oiled business with 300 employees, and it costs them $1 million per week to keep the show on the road. They had 11 people on stage and many more behind the scenes. In a 1994 interview with Ed Bradley of 60 Minutes (the 14-minute interview can be seen on YouTube), Jagger referred
to himself as the “Chief Executive of Business Operations of a Mobile Virtual Corporation.” Here are five lessons business owners can learn from Mick Jagger: 1. It is not enough to have a great idea or product. There have been many great bands over the years, however only a few have all members financially secure for life. It takes business skills to know what gigs to book, how to promote new albums, how much to charge for tickets, and how to manage employees. 2. Learn from your mistakes. The Stones lost big money in the 1960s. Jagger was quoted in a 2002 Fortune Magazine article saying, “I’ll never forget the deals I did in the 60’s, which were just terrible. You say, oh, I’m a creative person, I won’t worry about this, but that just doesn’t work!” 3. Do not give up. One Stones song carries a message for small
