Cost-of-living expenses and ongoing inflation are prompting more Americans to look to their employers for help with managing their finances.
A new joint report from the Bank of America (BOA) and Bank of America Institute discovered that 26 percent of the U.S. workforce is looking for assistance when it comes to managing household debt, emergency financing, and overall financial wellness. This represents a significant jump from just 13 percent reported in 2023.
Based on nationwide surveys of almost 1,000 employees and 800 employers, the BOA’s 2025 Workplace Benefits Report indicated that more than eight in 10 employers believe financial wellness resources help to drive motivation and job performance. It found that 54 percent of larger employers and 32 percent of smaller firms offered financial wellness programs….