This year’s survey results show more employees than ever admitting to being stressed about their finances. Cash flow and debt challenges continue to plague employees, inhibiting their ability to save sufficiently. Despite continued low unemployment and nominal wage growth, fewer employees feel their compensation is keeping up with their cost of living.
We believe that employers will need to take a hard look at their programs to determine whether they effectively address the variety of financial challenges their employees are facing while motivating employees to improve overall financial well-being and retirement readiness.