A recent Harvard Business Review article reported that 80% of all businesses' employees are feeling financial stress. For 27% of those employees, the stress they feel is reported as "high or overwhelming." The article goes on to explain that employee financial stress is affecting your profitability. In fact, it describes this stress as "lethal to your bottom line."
One way businesses can reduce that stress — as well as its impact on their bottom line — is to support employees in their financial planning. Recent stats show that only 56% of US workers are currently participating in a retirement benefits plan. Of those, another 56% say they are behind in retirement savings, with 37% saying they are "significantly behind."
The following are some steps employers can take to support their employees in their retirement planning.
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