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Validating SmartPlan Through Usability Testing

Billions of dollars spent on retirement education and enrollment meetings has largely failed to increase participation rates and contribution levels—leaving most plan participants unprepared for retirement. Now there’s an innovative solution that increases retirement plan deferral and enrollment rates by taking the inertia, guesswork and fear out of the employee engagement, education and enrollment process. 

vWise SmartPlan is a proprietary online application that guides employees to take action on their retirement plan. SmartPlan uses interactive multimedia to educate users on the features of their plan, to discover their individual retirement needs, to enroll them in their plan, to set their deferral rates, and to help them select investments. In early 2015 vWise Inc., the developer of SmartPlan, commissioned a Usability (UX) Study to benchmark and validate the digital application. 

Independent testing was conducted to observe how users interact with the platform and to better understand how plan participants accept, adopt, and use SmartPlan. ƒ Quantitative and qualitative measures were gathered across four specific usability dimensions: utility (usefulness of the product), usability (ease of use), satisfaction with the product’s features, and the quality of the multimedia features. ƒ Segmented testing was also conducted with a target group of potential SmartPlan users who have access to a workplace retirement plan. Notably, SmartPlan scored an 83.5% among all users and 92.7% among users with access to a retirement plan—significantly higher than the 68.2% total mean score from usability studies for web interface products.1

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