X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
collage of stock chart, downward arrows coffee cup (Photo: Shutterstock)

The last time we saw a massive surge in financial stress was during the 2008-2009 financial crisis. At that time, many companies started to offer more customized and voluntary benefits. The recession led to a disloyal and dissatisfied workforce, impacting employees in a variety of ways. As a result, employers were faced with balancing increased benefit costs and decreased employee retention.

After the 2008 recession, employers reprioritized employee financial benefits to increase loyalty and satisfaction in order to retain their workforce. Unlike before the recession, employers and employees recognized that there was a link between employee’s financial well-being and physical and mental health.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.