Twice as many American workers today are looking to their employers for guidance and resources around near-term financial needs, compared to two years ago. According to Bank of America's 2025 Workplace Benefits Report (PDF), conducted in partnership with Bank of America Institute, 26% of the workforce is seeking help in areas such as emergency savings, paying down debt, and overall financial wellness, compared to 13% in 2023.  

"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."

Other areas where employees say they need financial wellness resources include retirement education and planning (36%), learning how to generate income in retirement (33%), and developing good financial skills and habits (33%).

Based on nationwide surveys of nearly 1,000 employees and 800 employers, the 15^th annual Workplace Benefits Report explores employee financial well-being and retirement preparedness, the state of workplace benefits, and more.

Findings show that financial wellness benefits continue to matter to employees and employers, with more than 8 in 10 employers saying that financial wellness resources help drive job satisfaction, productivity, the ability to attract top talent, and be recommended as a great place to work. However, roughly half of larger employers (54%) offer financial wellness programs – and just a third (32%) of smaller companies.  

The survey also found that workplace benefits are increasingly a factor in retaining talent, with nearly a quarter (24%) of employees today saying they recently left or have considered leaving their company because their workplace benefits are lacking, up from 15% in 2023.

Additional findings from the report include:

• Emergency Savings – Growing savings for unexpected expenses is employees' second-most important financial goal — trailing only saving for retirement. Feeling overwhelmed by how to prioritize all their financial needs at once, half of employees (53%) have not hit their emergency savings goal (62% of women compared to 44% of men), often citing the fact that they're living paycheck-to-paycheck among the primary reasons.

• Personal Debt – Nearly half of employees (45%) say they lack emergency savings due to a focus on repaying debt. This isn't surprising considering 85% of employees carry some form of personal debt, with 58% carrying credit card debt, specifically. Many employees say that it causes them stress and a loss of focus and productivity at work. Despite this, fewer than 1 in 3 companies offer credit counseling or debt assistance aside from student loans – yet more are planning to do so in the future.

• Retirement Readiness – While 2 in 3 employees (67%) feel confident that they're on track for the retirement lifestyle they envision for themselves, confidence varies by gender and life stage. 59% of women feel on track toward their retirement goals compared to 72% of men. Half of employees (49%) wish they started saving for retirement at a younger age.

• Equity Awards – 60% of employers say an equity award has been a differentiating factor when attracting and retaining talent. Nearly half of employees (48%) say they want their employer to add stock awards in the next few years, and nearly 1 in 3 employers (30%) plan to do so. Among employers who offer equity awards today, 66% say the number of employees receiving them has increased over the last three years, and 83% are considering further expanding their offerings.

"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."