There are certainly encouraging signs that the economy is on the cusp of staging a legitimate recovery from the Great Recession. Consumer spending is trending up and home sales have begun to edge slightly higher. It’s still tough for some consumers, though.
While companies are beginning to hire again, millions of Americans are still out of work, and a substantial number of families still face foreclosure of their homes. On a daily basis, consumers are struggling to absorb the recession’s legacy, such as hefty credit card debts, anemic household finances and anxiety about the job market. Employees just want to restore financial stability to their lives.
A recent MetLife study found that 41 percent of workers overall, and more than half (52 percent) of those at larger employers (with 2,500 or more employees), strongly consider their workplace benefits to be the foundations of their financial safety nets. Employee purchase programs are a perfect fit for employers to promote financial wellness.
Purchasing Power has just released the second whitepaper in the “From Recession to Recovery