Many employees face more personal financial challenges today than five years ago, with credit card and other debt and trouble saving for retirement being their most common challenges, according to our latest Financial Education for Today’s Workforce: 2016 Survey Results.
The report examines the various types of retirement and financial education offerings U.S. and Canadian organizations provide to their employees and participants. The report finds that two-thirds of employers offer financial education to help their employees manage their personal finances and that four out of five employers find their employees’ personal financial issues are somewhat, very or extremely impactful on their job performance.
The Foundation received a total of 406 completed responses (281 from the United States and 125 from Canada). About two in five respondents (38%) represent corporations, 45% represent multiemployer trust funds and 16% represent public employers/governmental entities. A wide variety of industries, fund sizes and regions/provinces are represented.
[Related: Financial Education for Retirement Security: Four Approaches]
Below is a snapshot of some of the key findings. Check out the full report for detailed results.
Not sure where to get started or where to find the best approaches to employee financial security? The International Foundation offers a full collection of financial security/financial education resources and the Retirement 101 microsite to help employees understand their retirement benefits.
Neil Mrkvicka
Senior Research Analyst at the International Foundation
