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Financial benefits gaining in importance in the workplace

While financial benefits are very important to employees, employers need to do a better job communicating those benefits to them, according to a new study by Bank of America Merrill Lynch.

By Paula Aven Gladych | Updated on June 12, 2012

Financial benefits are more important to new hires than they were five years ago, according to Bank of America Merrill Lynch’s 2012 Workplace Benefits Report.

The report, which looks at the role financial benefits play in employers’ ability to attract and keep talent and employees’ ability to save for their future, also found that employers are concerned about their employees’ long-term financial security and that concern drives their benefit decisions.

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