1 in 3 employees reports that personal finances have been a distraction at work.
46% of those distracted by finances say they spend 3 hours or more per week thinking about or dealing with issues related to their personal finances.
Today’s workforce is the most diverse in history. With four generations on the job, as well as other elements encompassing gender, culture, ability, and more, there is no one-size-fits-all benefits solution. While the expansion of benefits has, in some ways, created more options for people to choose from, it has also created tremendous complexity.
At the upper end of the earning scale, this complexity has driven an increase in the financial planning and advisory sector. Higher income earners are working with professionals, from tax advisors to investment planners to create a personalized plan that allows them to capitalize on the variety of options available to them.
The story at the other end of the income spectrum, however, is far different. As demographics have shifted, the population of low-wage workers has increased. These families may have the same variety in the benefits that are offered to other employees, but with less income to work with, and typically little or no background in financial planning, they are far less likely to take advantage of these resources...
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