Similar to the increased legal needs met by today's workforce, identity theft continues to be a growing concern for employees. (Image: iStock)
Weaving a sturdy financial safety net has become increasingly elusive for today's workforce. Consider the many recent college graduates who struggle to balance the high cost of rent with enormous student loan debt. Young families who allocate large portions of income toward daycare while at the same time save for their children's education. And middle-aged employees constantly searching for ways to fund sky-rocketing college tuition while also caring for aging parents.
Generous health insurance coverage and retirement savings plans, both long-time pillars of an employer's suite of benefits, are now just table stakes and are no longer adequate to address ever increasing costs. Today's employers are looking for ways to reduce employee stress, improve financial wellness and enhance benefits packages—all while catering to the needs of a diverse and multi-generational workforce.
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