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Member Benefit

Retirement Plans and Financial Support Are Among the Most Desirable Benefits You Can Offer

Published Fri Sep 23 2022

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While many folks are talking about flexibility in the workplace and hybrid working environments as the central benefits employees are currently looking for, one more traditional benefit is going unnoticed, but that might be a mistake. Retirement plans are still extremely important to employees. Sixty-eight percent of workers worldwide ask during the interview process whether a company has a retirement plan, and 62 percent say this is an important consideration in their decision to accept a job or move on. Additionally, employees are increasingly looking for financial education and assistance from their employers. A quarter of employees surveyed said their most desired benefit is access to an unbiased financial counselor and training, and 70 percent said they feel financial wellness programs helped relieve stress while increasing employee loyalty, which can impact a business’s bottom line. In addition to reducing turnover rates, the reduction of stress has a positive impact on productivity. The average employee spends approximately 13 hours per month worrying about personal finances. If you multiply that across your team, how many hours are you losing unnecessarily?

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