Employers play a critical role in enhancing employees’ financial wellbeing amid the workforce’s growing concerns about retirement.
Findings from Betterment at Work revealed that financial anxiety among workers in the United States has steadily climbed over the last five years, reaching 90% in 2025.
When it comes to retirement, Gen X employees emerged as the least confident that they have enough saved to retire, while Gen Zs are the most confident about retirement.
Nearly half of employees in the report expect that they will need over $1 million to retire, but only 27% expect to reach this goal.
Similar findings have been recorded in other parts of the world. In Hong Kong, more than half of employees there estimate that they will need over HK$5 million to retire comfortably.
Elsewhere, employees in Australia and New Zealand are also staying longer in the workforce, according to various findings.
Sarah Levy, CEO of Betterment, said optimism about their long-term financial future is “encouraging,” but employers have a role in turning it into real progress.
“Companies that invest in their employees’ financial wellbeing help transform confidence into concrete outcomes and create lasting value for their teams,” Levy said in a statement.
Helping employees with retirement plans
The CEO’s call echoes previous sentiments that employers are in a position to help employees plan for retirement.
“HR teams are in a prime position to guide staff of all ages through this essential journey—helping them prepare for a comfortable and stable future,” said UK-based financial education provider Planned Future Wellbeing on its website.
“A comfortable retirement is not only about being financially secure, but also being aware of the lifestyle changes that come with retirement.”
The provider urged employers to assess their current employees’ retirement readiness and clearly communicate the benefits of planning for retirement.
Group Management Services, a consulting firm, also underscored the need for employers to provide their workforce with educational resources for retirement planning.
It is also important that they promote retirement plans to demonstrate loyalty to employees and care for their wellbeing.
“Providing your workforce with the resources and tools needed to properly plan for retirement can improve employee trust, loyalty, and attract top talent,” it said on its website.
Source – https://www.hcamag.com/ca/news/general/how-can-hr-help-employees-plan-for-retirement/560220