As we move through 2023, employees are struggling under the weight of inflation and rolling layoffs. As they hold their breath amid an uncertain economy, the idea of financial security — now and in the future — feels increasingly elusive.
Fifty-seven percent of employees say finances are the leading cause of stress in their life, according to PwC’s 2023 report on employee financial wellness. More than 80% of CHROs have taken at least one action to trim workplace costs, PwC found, including voluntary retirement and layoffs. It’s a perfect storm of circumstances that have left workers at all income levels feeling financially unstable.
