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Around 70% of U.S. employees are stressed about money, according to PNC’s 2024 Financial Wellness in the Workplace report. However, the exact causes of this stress may vary significantly by generation. Where younger employees mainly worry about short-term issues like monthly expenses, Gen X and Baby Boomers worry about their long-term ability to retire comfortably and on time. These varied stressors can complicate the process of supporting a multi-generational workforce. However, if business leaders can recognize the unique worries facing each age group, they can successfully implement customizable benefits solutions that meet employees wherever they may be. Financial stress leads to higher turnover for employees stressed about money Financial stress doesn’t just hurt employees at home—it can spill over into the workplace if not addressed. According to PNC, employees spend roughly three hours each week at work worrying about their finances. Over time, this distraction can hinder their overall workplace performance and harm an organization’s overall success. What’s more, financial stress can have an amplifying effect on turnover. Employees stressed about money are twice as likely to seek a new job than their financially secure peers. To keep employees engaged and committed to long-term success, employers must start by identifying

An effective benefits strategy is essential for attracting and retaining talent in any business. According to a recent survey by PeopleKeep, 81 percent of respondents felt that an employer’s benefits package was a key factor in their decision to accept a new job. In fact, MetLife’s 2024 Employee Benefit Trends Study shows that 93 percent of employees view workplace well-being as equally important as their salary. Yet, employers continue to miss the mark in benefits selection, despite its critical role in employee satisfaction. According to Forbes Advisor, 40 percent of employers report having lost staff who sought better benefits elsewhere. A poorly designed benefits package can leave employees feeling undervalued and overburdened, contributing to high turnover rates and costly challenges for your business. Don’t let simple benefits mistakes derail your entire organization. Avoid these costly missteps when putting together your benefits package. Mistake 1: Offering an unclear benefits package. A lack of understanding is the most common issue preventing employees from accessing benefits. According to Ameritas, 85 percent of workers don’t understand their benefits options. Responsibilities at work and at home often push accessing benefits far down the list of priorities. The intricacies of plan choices and coverage options may