Communication is key for a successful employee stock purchase plan (ESPP). Without promoting your plan, employees have no insight into key details of the plan offering. Ensuring communication to employees occurs on a regular basis can significantly boost employee engagement. Thus, the more employees who participate, the more money that is ultimately invested into the company.

What's a good communication strategy? How do you go go about implementing it? Let's get into it.

To start you'll want to tailor the message to your audience. With a wide variety of employee demographics, all at different stages of their life and career, creating a single message may be difficult. Instead, you should consider developing unique streams of messaging with a few different messages targeted to more than one group.

You'll also want to use multiple channels of communication. Since people process information differently, it's wise to share your message through various formats. With multiple channels, your communication can be seen via email, text, videos, blogs, social media and more.

Communicating often is a crucial part to your strategy. Companies often share new hire information during onboarding or orientation, but frequently fail to continue beyond that point. Regular communications will keep your ESPP and the associated benefits constantly crossing your employees' desks, emails, phones, social media, etc. The more your employees see it, the more likely they are to inquire and participate.

Offering a global plan? Since global plans must comply with diverse laws and regulations, it's essential to provide educational materials and access to regional experts to support compliance and understanding. This will help ensure country-specific questions can be filtered to the right expert, in the right region, on your team. Centralizing your communication strategy and plan can also help ensure consistency when delivering messages everywhere you operate.

Successfully executing your communication plan increases the chances of greater employee participation in your ESPP.

Contact us today and start boosting employee engagement to new heights.