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Amid growing financial stress, 9 in 10 employees want this benefit

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“Emergency funds are the top choice of nearly half of employees as a new benefit option,” said Devin Miller, CEO and co-founder of SecureSave, in a media release. “With benefits season upon us, we hope employers will listen to employees as they make investments for 2024. Employees want emergency funds above all else.”

Financial woes impacting workplaces

The demand for these benefits come as more employees admit to struggling financially, a challenge that has massive consequences on an organisation’s productivity and retention.

SecureSave’s survey revealed that one in three respondents had faced financial emergencies in the past six months, which negatively impacted their work performance and job satisfaction.

A majority of the respondents also said they don’t have enough savings to cover a month’s worth of expenses in case of an emergency (76%), while others said they wouldn’t be able to cover a $500-emergency expense (60%).

Even employees earning over $100,000 annually admitted to financial struggles, with 35% saying they are living pay check to pay check, and 64% saying this is affecting their work productivity.

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