Nearly seven in ten employees are optimistic about their financial future over the next three years, but a growing number are seeking help from employers for both long-term and immediate financial needs. According to Bank of America’s 2025 Workplace Benefits Report, produced with the Bank of America Institute, 26% of American workers now seek employer guidance on issues such as emergency savings and debt management, up from 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.”
The report found that employees also want more resources on retirement education (36%), generating income in retirement (33%), and developing sound financial habits (33%). The study is based on nationwide surveys involving nearly 1,000 employees and 800 employers.
More than eight out of ten employers believe that providing financial wellness resources increases job satisfaction, productivity, talent attraction, and enhances the company’s reputation as a good workplace. However, only about half of large employers offer these programs; among smaller companies, just one-third do so.
Workplace benefits are playing a larger role in employee retention. Nearly a quarter of employees say they have left or considered leaving their jobs due to insufficient workplace benefits—an increase from last year.
Other findings include:
– Emergency savings is now the second-most important goal for employees after retirement savings. Half have not met their emergency savings target; this is especially true for women.
– Many employees lack emergency funds because they focus on paying down debt. Most carry some form of personal debt—58% specifically have credit card debt—which contributes to stress and reduced productivity at work.
– Only a minority of companies currently offer credit counseling or debt assistance beyond student loans.
– While two-thirds feel confident about achieving their desired retirement lifestyle, confidence differs by gender: 59% of women versus 72% of men feel on track.
– Sixty percent of employers say equity awards help attract and retain staff. Nearly half of employees want stock awards added to benefit offerings within the next few 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 methodology involved surveying full-time workers participating in 401(k) plans and employers offering those plans between December 2024 and January 2025. A supplemental survey was conducted in April-May 2025 for further insights into how current market conditions affect employee financial wellness perceptions.
Bank of America Institute leverages data from millions of clients to provide economic insights through its research initiatives since its establishment in 2022.
Bank of America serves around 69 million consumer and small business clients across approximately 3,700 retail centers nationwide and operates globally across more than thirty-five countries.
