In the face of record inflation and talks of a recession, employers and employees have had money on their minds — and workers will expect solutions in the new year.
Prices increased by nearly 14% since the start of 2022. The U.S. Joint Economic Committee reports that even if prices suddenly stopped inflating, this year’s inflation will already cost the average household approximately $9,000 over the next 12 months. Many employees are carrying their financial burdens into 2023, and if employers want to remain competitive, they can’t turn a blind eye, says Greg Wilson, head of workplace solutions at Goldman Sachs Ayco Personal Financial Management, an employer-provided financial planning service.
