Today's workforce encapsulates five different generations, and each age group, from Gen Z to baby boomers, have widely different financial needs and concerns that need to be on their employers' radars in a post-pandemic world.
Today's workers feel sky-high levels of financial stress — the pandemic has worsened people's perceived financial outlook, and 83% of adults are stressed by high inflation rates, according to the American Psychological Association. Despite their concerns, only about 50% of employees feel comfortable talking to their managers about financial well-being. To help, employees need to tailor their benefits more specifically to their employees' needs and invest in financial literacy programs.
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With such a diverse workforce, there's no one-size-fits-all strategy to ensure financial wellness. But with the right approach, employers can help each generation tackle their financial concerns.