Q: What are some practical tips that employers can communicate to employees to safeguard their savings and investments with a potential recession looming?

Offer educational workshops and webinars, expressing the importance of financial education is the beginning of everything. Action: Host regular financial wellness workshops or webinars focused on topics like building an emergency fund, investment diversification, and budgeting.
Leverage personalized financial tools. Action: Provide access to personalized financial planning tools, such as budgeting apps or investment calculators that employees can use to manage their finances more effective.
Incentivize participation in savings programs. Action: Offer incentives for employees who actively contribute to their emergency savings account (ESA), such as matching contributions or milestone bonuses.
Offer one-on-one financial counseling.

Q: Are there specific programs, tools employers can offer employees to better help them save for retirement?

A: The most practical recommendation we make to companies for employers' employee engagement is by easily creating an ESA, which is a benefit that allows employees to automatically save a portion of their earnings specifically for unexpected expenses. Integrated with payroll, it offers a convenient way for employees to build a financial safety net without additional effort.

Instant Insights /

Saving on shaky ground: Helping employees navigate retirement planning during inflation

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