As proof, she cited findings from the survey that reveal 66% of Gen Z employees and 57% of millennials reported experiencing financial anxiety severe enough to impact their ability to work “all” or “most” of the time — compared to just 41% of Gen Xers and 28% of boomers feeling that way.

Additionally, 62% of all respondents said they faced moderate to significant financial anxiety, with inflation (62%), credit card debt (34%), and housing costs (31%) ranking as the top three financial stressors.

That’s no doubt why 4 in 5 respondents also said they believe it’s important that their employer provides strong financial benefits. More than half claimed they would be tempted to leave their job if a prospective employer offered better benefits than their current employer. Workers at smaller companies (61%) would be more likely to jump ship for better financial benefits, compared to 58% and 53% of workers at midsize and large businesses, respectively.

Related: Employees with money worries? Financial wellness to the rescue

Nearly 80% of workers stated they have access to a 401(k), and 89% of those are contributing to it — up from 83% in 2023 and just 70% in 2022. What’s more, 72% feel at least “somewhat confident” that they’ll be able to save enough to support themselves in retirement. 

That said, 56% anticipated needing at least $500,000 saved to retire comfortably; only 38% actually expect to have that much saved.

Financial benefits ranked the most important to financial wellbeing were a 401(k) plan (70%), a 401(k) matching program (66%), and an employer-sponsored emergency fund (36%). 

“Employers are positioned to [offer] benefits and education that equip employees to manage financial challenges and foster financial confidence,” Levy concluded.