5 financial wellness benefits to help employees tackle their money issues

By Alyssa Place, This is my expertise
Published Updated 2 Min Read

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In today’s workforce, nothing is off limits when it comes to the support employees are looking for to improve their financial situation

Forty-one percent of employees are currently living paycheck-to-paycheck, according to Willis Towers Watson, an increase from a pre-pandemic level of 38%. Without any extra funds at the end of the month, 75% of employees report money stress, with their top concerns being an inability to save for retirement, as well as challenges paying off debt and building an emergency fund, research from SoFi at Work found. 

Fifty-one percent of Americans have less than three months worth of expenses saved, according to Bankrate. For younger employees in particular, who are often just beginning to build their savings, an emergency savings plan benefit can help employees establish better financial habits and alleviate the stress of unexpected financial pitfalls. 

“What emergency savings funds do is help employees alleviate stress,” Nuckles says. “It’s a really low cost way for employers to offer a high value tool for employees who are looking to build this buffer that they haven’t had to rely on in the past.” 

Alyssa Place
Editor-in-chief

Alyssa Place is the editor-in-chief of Employee Benefit News and has been with the team since 2019. Her work covers mental health, DEI, women at work, financial wellness, retirement and workplace … Read full bio


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