Financial wellness benefits employees use most (& help them save for retirement)
Almost half of all Americans aren’t financially equipped to deal with an emergency and most believe employers need to step up and offer them financial wellness resources.
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.”
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.