New Report Finds Employers Feel Greater Sense of Responsibility for the Financial Future of Their Employees

Good Opportunity for Brokers to Sell Voluntary Benefits for Employees

Bank of America Merrill Lynch recently released findings from its Workplace Benefits Report, a new study that examines ways in which employers are helping address the financial needs of perhaps the most demographically diverse workforce in history.

As many employers are evolving to meet the needs of multigenerational workforces, coming out of the recession they are also feeling an increased sense of responsibility for the financial future of their employees. The study reports 59 percent of employers feel a great responsibility to help employees meet their financial goals, especially following the recent economic downturn.

When asked why they offer financial benefit plans, beyond helping attract (68 percent) and retain (76 percent) top talent, nearly 7 out of 10 (68 percent) employers cited doing so out of concern for their employees’ financial well-being.

Employers are actively seeking creative solutions that help their companies remain competitive and maximize the value of the benefits they offer their employees. The Purchasing Power employee purchase program can be a valuable addition to the overall benefits package and help employees successfully manage work-life balance while helping them achieve their personal goals in securing life-enhancing products.

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