The 2024 State of Employee Financial Wellness Report, was released earlier this month, and one striking finding is that nearly three-fourths (73%) of employees don’t feel completely educated about their company’s benefits.
With early enrollment season right around the corner, education should be top-of-mind for employers looking to drive participation. Why? The report also shows that employees who feel educated on company benefits are three times more likely (44%) to opt in for HSAs and Flexible Spending Accounts (FSAs) than those that don’t feel educated (15%).
Key Takeaways
Organizations who intentionally invest in employee financial wellness, benefits, and education will be rewarded with a more financially stable and satisfied workforce.
Companies have ample room for improvement in these areas, particularly if they want to support younger employees.
Health insurance and retirement plans are viewed by a majority of prospective employees as essential - without them, people are more inclined to decline a job offer.
You don't want to miss this essential new research!
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