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The last time we saw a massive surge in financial stress was during the 2008-2009 financial crisis. At that time, many companies started to offer more customized and voluntary benefits. The recession led to a disloyal and dissatisfied workforce, impacting employees in a variety of ways. As a result, employers were faced with balancing increased benefit costs and decreased employee retention.
After the 2008 recession, employers reprioritized employee financial benefits to increase loyalty and satisfaction in order to retain their workforce. Unlike before the recession, employers and employees recognized that there was a link between employee's financial well-being and physical and mental health.
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