Make workplace benefits work for everyone
Financial wellness programs can be a boost for your employees—and for you
The latest edition of UBS Workplace Voice shows how employers can best support their workforce during times of economic uncertainty.
UBS Workplace Voice: Tomorrows, new and improved, Issue 5
Putting life on hold
2022 started off strong for employees. The job market was hot, and employees were being wooed with perks and bonuses. . .
. . .but 2023 brought uncertainty about the economic environment that caused employers to tighten their belts and many employees to put their lives on hold.
Many employees are delaying important life- and wealth-building events in today’s economy
employees are delaying at least one major life event due to the current economy
Life events (delayed by employees) | Life events (delayed by employees) | Overall | Overall |
|---|---|---|---|
Life events (delayed by employees) | Taking a vacation | Overall | 39% |
Life events (delayed by employees) | Retirement | Overall | 33% |
Life events (delayed by employees) | Switching jobs | Overall | 21% |
Life events (delayed by employees) | Starting a family | Overall | 16% |
Life events (delayed by employees) | Getting married | Overall | 14% |
Financial events (delayed by employees) | Financial events (delayed by employees) | Overall | Overall |
|---|---|---|---|
Financial events (delayed by employees) | Buying a car | Overall | 39% |
Financial events (delayed by employees) | Investing in the markets | Overall | 35% |
Financial events (delayed by employees) | Saving for retirement | Overall | 29% |
Financial events (delayed by employees) | Buying a home | Overall | 29% |
You can help boost financial wellness
Employees recognize the value of financial wellness programs, but many aren’t taking advantage.
Financial wellness programs help employees stay accountable for their finances
of employees agree
Yet, few employees actually participate when a financial wellness program is available
of employees are participating
5 ways employers can increase participation in financial wellness programs
There is an opportunity for companies to build on their financial wellness program AND boost participation.
Our findings show these are key steps you can take to meet the needs of employees today.
Customize financial wellness programs to meet individual needs
Provide access to financial coaching
Communicate proactively and consistently during times that matter most
Help employees better prepare for retirement
Showcase the many benefits of participation
Previous research
In motion
2022
Benefits take center stage
2021
Let's talk
Let's talk
We welcome your questions about how we can help you create a more rewarding workplace through UBS Workplace Wealth Solutions. Please contact us via e-mail at UBSWorkplaceSolutions@ubs.com.
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