But 3 in 4 workers say financial wellness resources offered by employer have positive impact
Most employees in the United States cite finances as the top reason for their stress, according to a new report, which highlighted the benefits of offering financial wellness tools in the workplace.
A survey by Lincoln Financial Group discovered that 92% of employees in the US are stressed, including 65% who feel stressed at least half the time.
Among them, 85% cited finances as their top stressor, followed by work and career (83%), and then by personal relationships (79%).
Source: Lincoln Financial
Those who said finances are a source of stress said these feelings are due to day-to-day expenses (57%), unexpected expenses (49%), planning for financial future (49%), and debt (49%).
Impact of financial wellness tools
To alleviate feelings of stress, employees said they accessed their organisation's financial wellness tools, which help delivered better outcomes.
According to the report, 77% of employees who used financial wellness resources offered by their employer reported an overall positive impact.
Nearly seven in 10 employees also said their organisation's financial wellness resources helped reduce the amount of stress they feel about their finances, the report said.
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Among them, Gen X employees are more likely to say these resources helped alleviate financial stress, while Gen Zs are most likely to see significant impact.
Source: Lincoln Financial
"Providing a suite of benefits that address a range of workers' needs, coupled with robust education, can help employees access the tools and resources they need for improved peace of mind and wellbeing," said Heather Deichler, Lincoln's Group Protection Head of Product and Underwriting, in a statement.