About 85% of large employers offer benefits that set the foundation for employees’ long-term financial wellness and security, these programs include retirement savings plans, health-care coverage, and insurance. Additionally employers are the source of financial opportunity for employees, through cash compensation, salaries, and benefits. However, employees do not seek guidance from their employers on how to best allocate their paychecks to achieve their financial goals. In this new paper from Aron Szaprio we find that:
- Employees need financial guidance on how to best use their benefits
- Many employees are worried about their personal finances
- Employees are not listening to their employers about how to manage their benefits and finances.
- Many employers are not providing information to employees about how to maximize their benefits