Financial wellness-related products and services are roaring into the spotlight to reconcile the financial gap
A new Aite Group report looks at the impact of the costs of retirement, health, and college on the overall well being of people today. Access the report here.
Boston, October 9, 2019 — Employment levels in the U.S. may be high, but real earnings are not. The truth is that incomes have remained stagnant for nearly half a century. The costs of retirement, health, and college have soared in the same time span, creating a deepening gap between the two. This creates a financial impasse and becomes a major source of stress for many employees. Employers have been increasingly leaning on an assortment of benefits that lend themselves to improving employees’ financial well-being to bridge that gap. Financial Wellness Roars Into the Spotlight, Aite Group’s latest report, provides insights on the nuances across different employer segments.
“Stagnant incomes are the root of the underlying problem that employers must properly address, but in the meantime, employers are willing to make some form of financial amends through financial wellness-related employer benefits,” explains Inci Kaya, analyst at Aite Group.
This research captures views from a cross-section of employer benefit decision-makers across employer sizes, and it identifies the trusted sources they turn to for obtaining advice, support, administration, and training for financial wellness services. It is based on a Q2 2019 quantitative survey of 303 human resources professionals and employer benefit decision-makers in the U.S. across a range of employer sizes.
To request a press copy of this report or to speak with Inci Kaya about this topic, please contact us at [email protected].
About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.