Two studies from Alight Solutions indicate that there’s adisconnect between how much financial help workers think they should begetting from their employers and how much help those employersthink they should give.

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According to the 2017 Financial Mindset Study and the 2018 HotTopics in Retirement & Financial Wellbeing report, workersconsistently said they want more help across a variety of financialtopics than employers believe they should offer, beyond basicretirement savings and insurance services.

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Even for basic services, employees are out there ahead ofemployers:

  • 88 percent of employees say bosses should provide help savingfor retirement, compared with 84 percent of employers

  • 84 percent of workers want help in getting disability insurance,compared with 71 percent of employers

  • 81 percent of workers want help getting life insurance, whilejust 68 percent of employers think they should provide thathelp

But the divide is considerably greater outside those basicareas.

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Half of workers want help getting identity protection services;just 24 percent of bosses think they should provide that help.

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Similar or greater gulfs loom between them on saving for kids’education (workers, 47 percent; bosses, 20 percent); help with debtmanagement (workers, 46 percent; bosses, 23 percent); help withpaying off or financing student loan debt (workers, 46 percent;bosses, 18 percent); saving for short-term needs (workers, 45percent; bosses, 18 percent); establishing an emergency fund(workers, 44 percent; bosses, 22 percent); and creating or managinga budget (workers, 36 percent; bosses, 19 percent).

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“While companies have been moving in the right direction bybroadening the types of financial wellbeing tools and resourcesthey provide, workers are still asking for more help,” Rob Austin,head of research at Alight Solutions, says in a statement.

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Austin adds, “Offering help for every financial topic isn’tpractical or necessary, but there is an opportunity for companiesto determine the financial issues that are most relevant andpressing for their people and provide support in the areas thatwill be the most meaningful. Our research suggests that people whohave access to broader financial wellbeing programs are moreconfident in their current financial situation and are betterprepared to build a more secure financial future.”

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