Proposed Conversion Communications Strategy for Cameron International Corporation
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Proposed Conversion Communications Strategy for
Cameron International Corporation
Global Goals:
Phase One: Pre-Conversion – Introduction to the conversion process
Phase Two: Conversion – Provide education on the plan benefits and investment concepts
Phase Three: Ongoing Communications – Continue the momentumPHASE ONE: Pre-Conversion
Goals for phase one:
• Informational
• Build excitement for changes to come
• Lay foundation for future communication with employees by establishing a communication brand
• Begin educating employees as to the plan benefits, timeframe for the changes, and employee meeting dates
Component Target Audience Timeframe Key Messages
Communication brand N/A 4 months prior to • Determine strategy and components to be developed
development conversion date • Determine creative requirements for campaign brand
(April)
Finalize brand direction N/A 3 months prior to • Finalize creative direction for brand so all communications can
conversion date be drafted
(Early May)
Announcement letter, All employees 12 weeks prior to • Announce the upcoming change
e-mail, and/or Intranet conversion • Provide information about improvements that are coming
posting • Build excitement for changes
(Week of May 17) • Explain management’s rationale for the change
• This piece is to be developed and distributed by the employer
Conversion brochure, All employees and 10 weeks prior to • Describe plan enhancements
Sarbanes-Oxley 30-day all terminated conversion • Provide detailed timeline of changes
blackout notice, summary of participants with • Provide fund mapping information
plan features balances (Week of May 31) • Call to action – look for more information to come and attend
remaining in the employee meetings
plan • This is the first mailing participants will receive from T. Rowe
PricePHASE TWO: Conversion
Goals for phase two:
• Continue educating employees about the plan features, investment choices, and “how to” get involved
• Begin bolstering employees’ investment confidence by providing education on basic investment concepts and
principles.
Component Target Audience Timeframe Key Messages
Employee meeting All employees 2-3 weeks prior • Promote upcoming employee meetings
announcement poster, email, to meetings • Encourage employees to attend
and/or Intranet posting • Valuable information to be presented
(Week of • Representative available to answer questions
June 21)
Customized tabs for All employees 3-4 weeks prior • Conversion tab reviews and summarizes the conversion time line
myRetirementPlan website and all terminated to conversion and fund mapping information
participants with • Plan Features tab provides specific plan information
balances (July 1) • Forms tab provides access to necessary forms
remaining in the • Enroll tab allows eligible non-participants to enroll online
plan
Employee meetings All employees 2-3 weeks prior • Describe transition process
(in-person and/or via the to conversion • Discuss plan specific information and highlight plan benefits
Web) • Outline basic investment principles
(Weeks of • Review investment options
July 12 &19) • Provide opportunity for Q&A
Conversion complete email All employees Upon • Announce that the conversion is complete
and/or Intranet posting and all terminated completion of • Provide reminder of various ways to access account information
participants with conversion
balances
remaining in the (Mid to late
plan August)PHASE THREE: Ongoing Communication
Goals for phase three (these goals may vary):
• Encourage eligible non-participants to enroll in the plan
• Provide additional investment educational information
Component Target Audience Timeframe Key Messages
Enrollment kit All newly hired Ongoing after • Detailed plan specific information
employees conversion • General investment education
• Information on investment choices
• Fund performance information
myRetirementPlan Web site All eligible Continuous • Provides:
employees - full account transaction capabilities
- account information
- plan features
- investment options & education
Quarterly account statement Participants Quarterly • Provide account activities and status
and Plan Update newsletter • Investment education in newsletter articles
Investment education All participants Ongoing • Various messages that promote the benefit of participating in the
article series plan and saving for retirement
Employee meetings (in- All employees Ongoing • Presentations are geared to meet certain objectives such as: Pre-
person or via the Web) retiree education, increase participation/salary deferrals,
investment education, and current market conditions
Personalized distribution Terminated Monthly • Helps terminated plan participants make informed decisions about
statement Participants their retirement plan account
• Utilizes personal account data
• Educates them about the value of keeping their retirement assets
invested in a tax-deferred account versus cashing out and incurring
severe tax penaltiesComponent Target Audience Timeframe Key Messages
Personalized asset allocation Participants with TBD • For participants whose balance is heavily invested in bonds and/or
statement conservative short-term investments
account • Shows the current asset allocation and balance and uses their age
allocations to provide projected balances (at retirement) of three other
portfolios
Personalized total All participants TBD • For anyone who has assets with T. Rowe Price
retirement outlook • Statement shows estimated Social Security at retirement
statement • Can approximate monthly income based on both factors
Personalized withdrawal All eligible TBD • Using the target participants’ personal data, this statement helps
statement employees recipients determine if their total projected monthly income will
meet their future retirement needs and at what withdrawal rate
they should begin receiving monthly income in order to not outlive
their savings (financial planners recommend 4% to last 30 years).
Why save calculator Eligible non- TBD • Using the employee’s salary and various deferral percentages, the
participants calculator shows: Potential value of their account over various
time periods and how much it will cost each month to make that
contribution rate
Morningstar guidance & All eligible Continuous • Enables participants to gain guidance and/or advice depending on
advice products employees elected serviceYou can also read
