Research from Harvard Business Review reveals more than 70% of employees are caregivers in some capacity. Caregiving encompasses everything from basic childcare to supporting elderly family members.

And this silent majority desperately needs support. Along with their responsibilities at work, these employee caregivers spend between 20 to 30 hours addressing the needs of their loved ones. The costs associated with caregiving practices can also add to these employees’ financial stress, which can affect their mental health and performance on the job.

Here are the three top ways to leverage your benefits to help your employees with their caregiving needs.

1. Communicate with employee caregivers to help inform your benefits decisions

The best way to understand what your employee caregivers need is simple — ask them directly. Using surveys and in-person conversations, get a sense of what your workforce struggles with to better inform how to shape your benefits package. It can also be beneficial to conduct competitor research to see how other companies handle benefits.

Paired with collecting data is creating a culture where caregivers are supported. Ensure your employees are familiar with all of the resources available to them. Orientation and onboarding are great ways to start the conversation, while monthly emails and flyers help continue it. Employee caregivers who don’t use their benefits might be unaware or intimidated by how complex they can be.

2. Flexible benefits are key to supporting caregivers

No strategy can be one size fits all because caregivers’ needs vary widely. To best support all of your employees, consider including flexible benefits in your compensation package. These benefits include shared time off, PTO, unlimited vacation and remote or hybrid work. Flexible work schedules allow employees to balance their work and life responsibilities more effectively while limiting stress and burnout. According to AARP, 84% of employee caregivers find flexible schedules “very helpful.”

To go above and beyond for your workforce, you may also want to provide caregiver-specific benefits.

These include but are not limited to:

• Basic caregiver education
• Support groups
• Employee Assistance Programs (EAPs)
• Information about government resources

All of these programs provide necessary support to caregivers that may not be readily available. Government assistance, such as EAPs, have resources that include counseling, assessments and consultations, which all have their benefits for caregivers.

Not all companies have the bandwidth to support these measures, but those that put an emphasis on their caregiving employees can help that much more. And when employees see their workplaces care for their needs, they are more likely to stay engaged and productive.

3. Offer financial wellness tools to ease the burden of caregivers

Balancing the responsibilities of life and a full-time job can be difficult, but the financial strain it puts on employees can be crippling. No matter what the caregiving entails, there are likely significant costs associated.

Costs include but are not limited to:

• Transportation
• Medical equipment
• Home accessibility modifications
• Housing

These costs add up quickly and put a major dent in monthly expenses. A 2024 AARP poll found that one-third of caregivers in Vermont feel financially strained by their caregiving responsibilities.

The answer to these financial concerns is a comprehensive financial wellness program. Financial wellness programs offer personalized solutions to the most common money stresses.

Educational resources, advisors and budgeting tools all come stock-standard with great wellness programs and are proven to help ease the burden of financial stress. Many wellness programs are also personalized to fit employee needs and offer support specific to their situations.

Are you looking for a financial wellness solution that supports caregivers? Try Best Money Moves!

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

New research on employee stress has revealed useful insights to incorporate into your company’s benefit program. EBRI’s 2024 Workplace Wellness Survey interviewed over 1,500 American employees and uncovered surprising trends that could shape workplace wellness strategies in 2025 and beyond.

Above all, employees hope to improve their financial lives to secure their future. Depending on the individual, this could mean anything from contributing to their retirement to getting out of debt. However, one throughline remains — when it comes to relieving employee stress, many employees are looking to their employers to provide the necessary educational resources.

Here are four takeaways from the EBRI survey and what they mean for your company.

Saving for retirement is top of mind for employees

According to the survey, if given $600 to put toward any financial accounts, the majority of employees would choose to contribute to their retirement savings. A solid retirement fund contributes to a secure future and improves overall well-being. However, nearly 20% of respondents had used funds from their retirement to pay for emergencies.

Without a dedicated emergency fund, employees may borrow from their future, adding to their financial stress. While a comfortable retirement is the goal, unforeseen expenses can put a wrench in those plans.

Employers can help by offering a variety of retirement plan options and providing matching contributions. Additionally, extensive education or workshops on retirement planning and budgeting can empower employees to make informed decisions and maximize their savings.

Employers must provide educational resources to relieve employee stress

Forty percent of the employees surveyed expressed a desire for tools to learn more about personal finance. Financial education comes in many forms, and the types of questions employees have often depend on demographics and life experiences.

According to the EBRI survey, the most popular subject employees were interested in was retirement planning (42%). This was followed by building emergency savings (34%) and learning to budget effectively (33%).

Financial wellness programs help answer burning questions with comprehensive educational resources catered to your employees’ needs. Access to customized tools and accessible content can bridge knowledge gaps and reduce financial stress among workers.

Workers find financial wellness programs useful for employee stress

Nearly 90% of workers surveyed claimed that the financial wellness programs their employers offered were at least somewhat helpful in achieving their goals. 40% said financial wellness programs have become more important to offer in the past year. Finally, nearly eight in 10 respondents claimed that these programs contributed positively to their feeling of financial security.

These programs can include everything from budgeting tools and debt management workshops to resources for investing and planning for major life events. Employers should prioritize making these programs accessible, engaging, and tailored to the needs of their workforce.

AI financial management tools are becoming more popular

The use of artificial intelligence is quickly becoming more mainstream. This trend is consistent among employees. Nearly 60% of respondents felt comfortable using AI at work, and many are turning to AI as a tool to manage their finances.

Personalized recommendations and automated financial planning can be powerful tools for your employees. According to a survey from Experian, 67% of Gen Z and 62% of millennial respondents used artificial intelligence to help with personal finance tasks.

This is an area with growth opportunities. AI can help employees identify potential savings, monitor spending habits and achieve financial goals. Employers should consider integrating AI-driven financial tools into their wellness programs to stay ahead of this growing trend.

Looking for the right wellness benefit in 2025? Try Best Money Moves.

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

Recent economic pressure has put financial wellness benefits in the spotlight. 2025 is a pivotal year for reassessing how employee wellness impacts organizational success.

Stress has long been known to damage employee mental health, productivity and retention. This is especially true of financial stress. Employees grappling with financial anxiety may be more distracted and less engaged. This translates to higher absenteeism and reduced workplace performance.

Moreover, employees view their employers as responsible for financial wellness efforts. According to MetLife’s Employee Benefit Trends Study 2024, 92% of employees want more consistent care from their employers. Wellness benefits must support both immediate financial challenges and long-term goals.

Here’s how the right wellness benefits can transform employee wellbeing — and why 2025 may be the perfect time to put these tools into action.

The financial wellness benefits landscape in 2025 and beyond

Reports underscore a shift towards financial wellness benefits as crucial components of overall employee well-being. According to Transamerica’s 5th Transamerica Prescience 2026 Report, around half (47%) of employers are expected to offer financial wellness programs by 2026. Industry professionals also expect the addition of student repayment programs by this time.

Additionally, retirement plan coverage for smaller businesses (under 100 employees) may reach parity with larger companies. These changes signify an encouraging shift toward more inclusive financial benefits.

Healthcare benefits company Lively found that 81% of employers plan to add or improve wellness benefits in the coming year to enhance recruitment and retention. Flexible benefits, like emergency savings and lifestyle accounts, may also gain traction. Flexibility and customization remain high on employee wishlists.

2025 is the year to implement financial wellness benefits

For employers, 2025 marks the window to act. Companies without financial wellness programs risk falling behind in the race for talent. Transamerica also warns employers without financial wellness may struggle with recruiting and retention.

Organizations increasingly leverage robust wellness benefits as a differentiator. In a recent report by the Integrated Benefits Institute, 51% of employers listed “employee satisfaction” as their top goal. As employers ramp up their wellness benefits, there is more competition for talent. This shift reflects the understanding that employee well-being is a key HR strategy. Wellness is not only a moral imperative but also a critical business strategy.

Moreover, flexible benefits can enhance recruitment, satisfaction and retention, as noted in the Lively report. Financial wellness programs can position organizations as forward-thinking and invested in their workforce.

3. Consider employer-sponsored employee credit card debt assistance programs

Companies should consider the following steps when considering wellness benefits.

1. Assess Current Benefits: Consider existing wellness offerings to identify gaps in addressing financial stress.
2. Engage Employees: Gather feedback to understand employees’ financial concerns. Then, ensure the new benefits align with their needs.
3. Introduce Flexible Options: Consider benefits like emergency savings, student loan repayment programs and financial literacy training.
4. Leverage Partnerships: Deliver easy-to-use tools, such as budgeting apps, coaching services, and retirement planning resources.
5. Measure Impact: Assess program effectiveness to ensure continued relevance and ROI.

As the workplace evolves, so must employee benefits. Financial stress will present challenges to employees in 2025. But employers can use the tools at their disposal to relieve it. Prioritizing wellness benefits helps organizations improve employee well-being, boost productivity and enhance retention.

Looking for the right wellness benefit in 2025? Try Best Money Moves.

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

Employee credit card debt is a significant issue among American workers. The average American’s debt balance reached $6,380 as of Q3 2024, according to TransUnion. One in five credit card users are maxed out, and 8.8% of credit card debt transitioned into delinquency during the same period. Credit card debt has increased by 48% since 2021, largely caused by post-pandemic spending and inflation.

This financial burden weighs heavily on the mental health of your workforce. Nearly half of those struggling with employee credit card debt report sleep issues, anxiety, and even depression. These struggles can spill over into the workplace, hindering your team’s productivity. According to research published in the Journal of Business and Psychology, employees dealing with financial stress are 11 times more likely to report being less effective at work.

By offering the right support, you can empower your employees to regain control over their finances, improve their overall well-being and boost your team’s wellbeing. Here are four key ways to help them manage their employee credit card debt.

1. Educate workers on how to handle employee credit card debt

Financial literacy is essential for managing and reducing credit card debt. However, 90% of Americans are unaware of how credit cards even work, especially when it comes to negotiating terms and conditions. Filling this information gap is essential to reducing misspending. Research from InCharge Debt Solutions has shown that individuals with higher financial literacy are less likely to engage in costly behaviors, such as paying only the minimum balance or incurring late fees.

Employers can help bridge this gap by:

• Offering comprehensive financial education services such as Best Money Moves
• Hosting financial workshops on debt management
• Teaching employees how to consolidate high-interest debt into lower-interest loans—an important step, considering the average U.S. credit card APR is 24.62%
• Providing resources on how to negotiate lower rates with credit card providers.

A solid financial foundation can help your employees size up their credit card debt and then strategically approach repayment.

2. Encourage budgeting and emergency savings for those with credit card debt

Budgeting and emergency savings are critical for financial stability. Yet, according to NerdWallet, only 74% of Americans actively follow a budget. Employers can help fix this problem by fostering a culture that incentivizes financial planning.

By offering resources to help employees create a budget and stick to it, employers can help employees manage everyday expenses and prepare for emergencies. Investing in employee wellness can also boost team morale.

For employees struggling to save, automated payroll savings programs may help employees to store some of each paycheck in a dedicated account with minimal effort. Employees face less stress and greater stability when they take the time to build better financial habits. This benefits both their personal lives and workplace performance.

3. Consider employer-sponsored employee credit card debt assistance programs

Employer-sponsored debt assistance programs allow you to directly address employee credit card debt. These programs vary, but many offer direct contributions or match payments toward employee credit card debt. This helps to reduce their balances more quickly. Debt assistance programs are highly sought after. When surveyed by the Financial Health Network 62% of respondents reported that they would be more likely to stay at a job that offered useful debt-related benefits.

4. Offer flexible payroll options

Many employees struggle to make ends meet on a traditional biweekly pay schedule, particularly the 78% who live paycheck-to-paycheck. Flexible payroll options like earned wage access programs can offer relief for these employees by allowing them to access their earnings before payday in case of an emergency. This approach can help employees pay their bills on time, avoid late fees and reduce their reliance on credit cards for everyday expenses.

Not only can flexible pay options help your employees in a financial bind, but they also help employees feel more in control of their finances, reducing stress.

Supporting employees in managing credit card debt isn’t just a kind thing to do for your employees — it’s a smart move for your business. When employees have the tools to take back control of their finances, they’re less stressed, more focused and better equipped to do their job.

Help your employees with their credit card debt with Best Money Moves!

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

As 2024 comes to a close, HR professionals must rethink benefits strategy going into next year. This past year has been shaped by major financial uncertainty and advancements, influencing the benefits trends going into next year. All of these factors mean that employee needs are changing. Your current benefits need to keep pace.

The common theme emerging from this year’s insights is personalization. Employees want solutions to their unique problems – from building retirement savings to handling unexpected medical expenses. Compared to years prior, employees want more retirement benefits and paid leave opportunities. Financial wellness remains at the forefront of worker attention.

Here are the most important benefits your company needs in 2025.

Financial wellness remains atop the benefits trends

The common thread that connects most employee concerns is a high level of financial stress. Money worries continue to strain employees across all job sectors, income levels and generations. The stress is due to multiple factors, including an increased cost of living, especially among rent and groceries prices, over the past few years. According to CNBC, heightened expenses have led to the most common financial milestones, (such as retiring, purchasing a home or vehicle, and getting married) becoming out of reach for a significant population.

With a dedicated financial wellness program, you can help employees manage their finances — reducing stress and improving productivity. Financial wellness programs offer customized resources that provide essential information — regardless of age or income level.

According to Mercer’s Survey on health & benefit strategies for 2025, almost 70% of surveyed companies offer or plan to offer financial wellness programs in their benefits package next year. This projection shows the benefits trends in use and utilization of financial wellness programs among employees.

Focus on personalized benefits first

Personalized benefits put your employees in a position to succeed. Your employees have different struggles based on their age, experience and financial history. The right benefits package needs to cater to the unique needs of your workforce. This applies to new college graduates and senior employees alike. Employees who feel their benefits match their situation feel more loyalty to their company.

As technology improves, personalized benefits will be able to cater to a person’s exact struggles. New opportunities appear every year. In SHRM’s 2024 Employee Benefit Survey, menopause benefits, gender-affirming care and lifestyle savings accounts trend for the first time. However, even as new benefits appear, the core goal will remain the same — offering solutions that enhance individual lives.

Inclusive health benefits are still widely sought after

Medical costs continue to be a major concern for employees going into 2025. Almost half of Americans surveyed by the Commonwealth Fund have had surprise medical bills they expected to be covered by insurance. This added stress can drastically affect an employee’s finances, especially if they do not have an adequate amount saved — and now, companies require solutions.

Companies help employees make their healthcare costs more manageable through effective healthcare benefits. According to Mercer’s Survey on Health and Benefits Strategies for 2025, about two-thirds of large employers said that “improving healthcare affordability” is a priority for the next year. One method of support employers provide will come in the form of affordable deductibles. According to the report, 40% of large companies will offer a medical plan with a low or no deductible.

Retirement benefits trends may help move the needle

In SHRM’s Employee Benefits survey, more than 80% of employers said that retirement benefits were “very” or “extremely” important. These benefits trends will continue going into 2025.

The average employer matches 6% of an employee’s Traditional 401k and Roth 401k contributions. However, planning for the future continues to be a major stressor for employees. According to a 2024 PlanAdviser survey, 48% of employees claimed that concerns about their retirement savings were the top cause of their financial stress. Additionally, 62% of employees in the survey noted that retirement plans contributed the most to their financial security, which was up from 56% in 2023.

Creative solutions (such as student loan debt assistance and tax-advantaged health savings accounts) may be the key to supplementing your current retirement benefits.

Flexibility improves productivity

Flexibility in benefits packages comes in many forms — from remote/hybrid schedules or inclusive leave opportunities. In March of 2024, 11% of private industry workers had access to flexible benefits, which allowed employees to customize their packages as needed. According to Plan Adviser, interest in paid leave increased by about 15% from its figure in 2022.

Remote and hybrid work also continue to hold as a popular option for employers and employees. According to The US Bureau of Labor Statistics, productivity in 61 industries increased when employees switched to remote work. Research from Forbes also found that 98% of employees want to work remotely and project 32.6 million employees will be remote by 2025.

Providing a working environment where employees can be the most productive is crucial to flexible compensation packages. The ability to use benefits as they see fit also improves retention among your workforce.

Looking for the right financial wellness program to round out your benefits for 2025?

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.