Driven in part by a higher cost of living and inflation, double the number of workers are turning to their employers for help with their pressing financial needs, such as emergency savings, reducing debt and general financial wellness, according to Bank of America’s 2025 Workplace Benefits Report, released Wednesday.
More than 1 in 4 workers wanted company assistance, compared to 13% in 2023, per the report, which was conducted in partnership with Bank of America Institute.
“The modern employee wants help with their broader financial goals,” Lorna Sabbia, head of workplace benefits at Bank of America, said in a news release.
Based on nationwide surveys of nearly 1,000 employees and 800 employers, the report found that 54% of larger employers provide financial wellness programs, while only 32% of smaller businesses do.
