A Bigger Paycheck Isn’t Enough: Workers Now Want Financial Wellness Perks From Employers

While a competitive salary is a significant factor in job satisfaction, employees today are seeking more comprehensive financial support from their employers. According to the 2025 Workplace Benefits Report by Bank of America, there is an increasing demand for assistance with immediate financial concerns, including emergency savings solutions, debt management options, and practical financial tools.

In a notable shift, the percentage of employees who express a desire for their employers to assist with short-term financial needs has doubled from 13% in 2023 to 26% in the current report.

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The report indicates that 36% of employees are prioritizing financial wellness resources, especially in relation to retirement education and planning. In addition, 33% of employees are eager to learn about generating retirement income, while another 33% wish to cultivate robust financial skills and habits.

Debt remains a significant burden for many employees; 85% report having some form of personal debt, and a majority (45%) acknowledge that their debt obligations prevent them from building an emergency fund. Despite this pressing need, fewer than one in three companies provide credit counseling or debt assistance beyond educational loans. The report notes that only about 54% of larger companies offer comprehensive financial wellness programs.

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There’s a clear disparity in this landscape: while approximately 50% of larger corporations provide financial wellness programs, only 32% of smaller businesses have implemented similar offerings. This inadequacy can impact recruitment and retention, as over 80% of employers report that financial wellness programs enhance job satisfaction and attract top-tier talent.

The findings from this survey, which included responses from 962 employees, portray the growing importance of workplace benefits in retaining talent. Nearly a quarter of respondents indicated that they have recently left or considered leaving due to insufficient workplace benefits.

To safeguard talent, companies should consider investing in workshops and financial wellness programs that empower employees to feel more in control of their financial health.

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If your organization has yet to introduce financial wellness resources, it’s possible to create your own strategy for managing your finances. For instance, consider automating your savings by allocating a set amount to a dedicated emergency savings account, ensuring that you have funds readily available when necessary.