Twice as many U.S. workers today look to their employers for guidance and resources around near-term financial needs compared to just two years ago, according to a new survey by Bank of America.
The survey found that 26% of workers are seeking help in areas such as emergency savings, paying down debt and overall financial wellness, compared to 13% in 2023. Other areas where employees said they need financial wellness resources include retirement education and planning (36%), learning how to generate income in retirement (33%), and developing good financial skills and habits (33%).
Financial wellness benefits continue to matter to employees and employers, with more than eight in 10 employers reporting that financial wellness resources help drive job satisfaction, productivity, the ability to attract top talent and be recommended as a great place to work, according to Bank of America. However, roughly half of larger employers (54%) offer financial wellness programs, and just a third (32%) of smaller companies.
