The Federal Reserve has been surveying over 11,000 households each year since 2014 to track their economic well-being. The latest research was released in May of 2023 and showed a marked decline in financial well-being from 2021-2022; the overall measurement came in at the lowest reading since 2016.¹ Here are a few key findings:
How many of your employees have similar concerns?
Many organizations are attending to employees’ financial concerns by offering MSA’s financial well-being program, and they expect to see the following outcomes:
Right now, employers have an excellent opportunity to provide enhanced financial well-being benefits at a time when employees desperately need them. 2024 will be here before we know it.
Here are two other ways employers can positively influence the financial well-being of employees:
There has never been a better time to enhance the financial well-being benefits for your employees. To learn more about how you can partner with MSA to empower employees to take charge of their financial futures, visit mysecureadvantage.com/why-msa.
¹ Federal Reserve Report: Economic Well-Being of U.S. Households in 2022. Released in May of 2023.
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