Friday, December 12, 2008

Improve training, involve employees like Best Buy

How do you get employees engaged in training?

Have them make the employee training videos.

It may sound easier said than done, but it’s exactly how Best Buy managed to increase their 401k participation by 30% last year.

As the story goes, Best Buy’s HR team was struggling to find a way to boost their low 18% 401k participation rate. It looked like they were facing an uphill battle with more than half of the company’s employees are under the age of 24 and not the least bit worried about retirement.

So, in attempts to motivate their young employees, Best Buy launched a contest on their social networking site, BlueShirt Nation. Employees were challenged to submit motivating videos about what 401k plans mean to them.

The contest lasted just three months and Best Buy’s 401k participation had jumped to 47%, an almost 30% increase.

Here’s the winning video ...

Thanks to HR Marketer for bringing this great story to our attention. Have a Happy Friday!

1 comment:

Dan McCarthy said...

Good for Best Buy. I love the concept of “user generated content” – I believe it’s going to be a big part of the future of learning. It plays so well with how our younger employees are used to sharing information.

Brought to you by