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According to research and data from Morgan Stanley, one in four employers have already begun the process of pruning back their employee financial benefits offerings as a cost-saving measure in anticipation of economic downturn.
Some of the areas that are seeing these cuts implemented include equity arrangements, financial wellness programs, and retirement savings related expenditures.
It’s worth noting, these cuts are occurring during a time when nearly 7 out of 10 employees are paying more attention to their financial benefits, and nearly 9 out of 10 employees claimed they would be more likely to stay in their position with a company if their financial benefits expectations are being met.
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