Supporting Financial Health for Millennials and Women in the Workplace
Millennials and women have unique financial needs. This report sheds light on the needs and preferences of these employees, helping employers develop targeted solutions that can set them apart in a competitive marketplace.
As the largest generation in the U.S. workforce, millennials have unique financial needs. The same holds true for women, who are now in the workforce in greater numbers than ever. In our latest research, the Financial Health Network sheds light on the needs and preferences of these employees, helping employers develop targeted solutions that can set them apart in a competitive marketplace.
In a recent survey of 1,000 employees of mid-sized and large U.S. firms, the Financial Health Network uncovered these insights:
Millennials are more likely than other generations to want help with short-term and long-term planning, with emergency savings being their top short-term need.
Women are more likely than men to cite financial concerns as a top source of stress, even more than health, family concerns, and issues at work.
Not only are millennials comfortable receiving financial help from their employers, the vast majority of them expect it.
Women have less help than men in managing their finances, but are also less comfortable receiving support at work and are less likely to have used the financial wellness benefits offered to them.
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 Financial Health Network in November and December 2018 by Greenwald & Associates, with strategic contributions and financial support from Morgan Stanley. This infographic is the second in a series highlighting key findings from this research.