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Helping employees manage their unsecured debt (credit card, medical, and personal loan debt) could help employers attract and retain top talent In today's high-turnover environment. Indeed, offering a benefits package that doesn't feature debt-related financial wellness benefits may not be enough to promote workers' wellbeing, productivity, and satisfaction.
Survey data shows a benefits gap
A recent Financial Health Network survey found a high need for debt-related benefits, as well as gaps between those who need these benefits most and those who currently have access to them. The survey asked workers with unsecured debt about their financial challenges in the past 12 months and found that although all respondents to the survey worked full-time, many struggled with their finances, and used work time to manage their debt load.
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