What financial wellness benefits do employees need?

Published September 17, 2024 12:00 PM EDT Updated September 18, 2024 12:27 PM EDT 2 Min Read

Employers seeking to retain experienced professionals across the organization are launching new benefit packages to meet the nuanced needs of current and future generations.

Technology has been a driving force for change across numerous industries and workplaces, helping streamline procedures ranging from talent sourcing to benefit management and even health care choices.

According to a recent study conducted by the software firm Ceridian, roughly 82% of employees are consistently worrying about their personal finances while at work — amounting to more than $660 billion in lost productivity. Similar research published by PwC found that 49% of workers struggle to meet household expenses like bills.

“This year has been particularly tough for folks,” Ana Mahony, CEO of financial wellness platform Addition Wealth, told EBN’s Paola Peralta. “People are not only navigating household debt, which has reached an all-time high, but we’re also seeing inflation that’s gone up, student loan repayments and high credit-card card debt. It continues to be a tough time for Americans in terms of their finances.”

Frank Gargano

Data Reporter

Frank Gargano is a Queens-based data reporter for Arizent.

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