Infographic

Better for Employees, Better for Business: Providing the Tools to Meet the Financial Health Needs of Employees

Many employees are financially stressed and are looking to their employers for support. In this infographic, we focus on employees’ needs for financial guidance, emergency savings, and debt management benefits. By providing support in these areas, employers can distinguish themselves, improve worker engagement, and help employees to thrive.

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Workplace

Wednesday, July 15, 2020

Better for Employees, Better for Business: Providing the Tools to Meet the Financial Health Needs of Employees

Top Takeaways

In our survey of 1,000 employees of mid-sized and large U.S. firms, the Financial Health Network uncovered these insights:

Currently, less than one-third of employees report having access to any given financial guidance benefit, even though a majority of employees express interest in these benefits.

Emergency savings benefits from employers are still rare, with only 23% of employees indicating that they currently have access to an employer match for emergency savings. Yet emergency savings is the most in-demand benefit of any offered in the survey, with 61% of employees expressing interest.

Debt-related benefits are of interest to employees across the income spectrum – even higher-income employees want support for managing their debt. Yet less than 20% of employees say that they have access to any given debt or credit benefit.

Data Spotlight

Nearly three-quarters of employees say it’s important that employers offer financial wellness benefits, but few have access to holistic options – highlighting the opportunity for employers to differentiate themselves.

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Our Supporters

Data comes from a survey of 1,000 U.S. workers employed full-time for companies with more than 500 employees. The survey was conducted on behalf of the Financial Health Network in November and December 2018 by Greenwald & Associates, with strategic contributions and financial support from Morgan Stanley. This infographic is the third in a series highlighting key findings from this research.