Disconnect on Financial Wellness Between Employers and Employees

Payroll Integrations' 2024 State of Employee Financial Wellness Report examined the relationship between employees and employers regarding financial wellness. Conducted in April 2024, the survey included 255 U.S. respondents (153 employees and 102 employers) aged 18-65, all employed full-time and responsible for benefits management or at a management level.

Key Findings:

✨ Responsibility Perception:

* 95% of employers believe they should support employees' financial well-being.

* Only 36% of employees feel completely financially stable.

✨ Support Discrepancy:

* 49% of employers think they fully support financial wellness.

* Only 28% of employees agree.

✨ Investment Priorities:

* 41% of employers plan to spend more on financial education (only 18% of employees prioritize it).

* Rather 54% of employees want better health insurance and 43% need greater retirement investment.

✨ Retention and Recruitment:

* 67% of employees consider retirement plans essential for job offers.