Nearly 70% of employees feel optimistic about their financial outlook for the next three years, but a growing number are seeking more immediate guidance from their employers on managing personal finances. Rising living costs and ongoing inflation have prompted more workers to look for assistance in prioritizing financial needs.
According to Bank of America’s 2025 Workplace Benefits Report, conducted with the Bank of America Institute, 26% of employees now seek help from their employers regarding short-term financial matters such as emergency savings and debt management. This is double the proportion seen in 2023, when only 13% sought similar support.
“The modern employee wants help with their broader financial goals,” said Lorna Sabbia, Head of Workplace Benefits at Bank of America. “Employers should consider additional resources to support their workforce in ways that bolster their long-term goals while also helping them tackle short-term challenges.”
The report identifies other areas where employees want more resources: retirement education and planning (36%), learning how to generate income in retirement (33%), and developing good financial habits (33%).
The annual survey gathered responses from nearly 1,000 employees and 800 employers nationwide. Results show that over 80% of employers believe financial wellness programs can boost job satisfaction, productivity, talent attraction, and recommendations as a workplace. However, only about half (54%) of large companies offer these programs; among smaller firms, the figure drops to one-third (32%).
Workplace benefits are also becoming a factor in employee retention. The survey found that almost one in four employees (24%) recently left or considered leaving their jobs due to insufficient workplace benefits—an increase from 15% last year.
Emergency savings remain a high priority for many workers after retirement savings. About half (53%) have not reached their emergency savings goal. This issue is more pronounced among women (62%) than men (44%). Many cite living paycheck-to-paycheck as the main reason.
Debt continues to be an obstacle for saving: nearly half of workers say repaying debt prevents them from building emergency funds. Most employees carry some form of personal debt, including credit card balances held by 58%. Many report stress and reduced productivity because of this debt load. Despite the need, less than one-third of companies currently offer credit counseling or debt assistance beyond student loans; more plan to do so moving forward.
Two-thirds (67%) feel confident about achieving their desired retirement lifestyle, though confidence varies by gender—59% among women versus 72% among men—and by life stage. Nearly half wish they had started saving earlier.
Equity awards are another area affecting talent retention and attraction: 60% of employers see them as important for differentiating themselves; almost half of employees would like stock awards added to benefit offerings soon. A third of employers plan to add such awards in coming years.
“Some companies are evolving their financial benefits to keep up with the needs of their employees, while others remain focused on traditional benefits alone – such as retirement plans and health insurance,” said Kai Walker, Head of Retirement Research and Insights at Bank of America.“Financial wellness programs, equity awards, debt assistance, caregiver support can all help attract and retain top talent.”
The survey methodology involved full-time workers participating in employer-sponsored retirement plans and employers responsible for those plans’ decisions. The research was conducted between December 2024 and May 2025 through two rounds—a main study and a supplemental mid-year employee survey—to measure current market impacts on financial wellness sentiment.
Bank of America Institute provides insights using data from its extensive client base across consumer banking and wealth management segments globally.