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In these inflationary times, Americans are looking to employers to throw them a financial lifeline in the form of financial wellness programs or resources, which you can see below in the infographic. Almost half of all Americans don't have access to an emergency savings fund for six months, according to a new TIAA Financial Wellness Survey: Employers Offering Holistic Financial Benefits Can Help Employees Improve and Maintain Financial Wellness.
"The world is chaotic – in addition to work being chaotic – and people value whatever support they can find even more than before," says Rachel Schneider, CEO and founder at Canary. "We're all dealing with so much variability an change that the workplace being a source of security is a higher value than ever before."
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Now, with record high inflation, employers are stepping up to provide employees with a financial safety net. "And, like many other employer offerings, this isn't necessarily just a perk of the job – it's an expectation," says Schneider.
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Lynn Cavanaugh
Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.
