PNC Bank Survey Reveals Varying Financial Wellness Needs Across America's Most Generationally Diverse Workforce
PNC Bank's second annual Financial Wellness in the Workplace Report reveals varying financial needs across America's multigenerational workforce. Key findings from the survey of over 1,000 U.S. workers and 500 employers include:
- Gen Z is the most financially stressed (76%), followed by Millennials and Gen X (72% each), then Boomers (59%).
- Top financial goals differ by generation, with Gen Z focusing on credit ratings while others prioritize retirement savings.
- Benefits play a important role in retaining younger workers, especially Gen Z (92%) and Millennials (85%).
- Student debt is a significant concern, with 54% finding it the most challenging debt.
- Access to financial planning benefits has doubled for workers in the past year.
The report highlights the importance of tailored benefit programs to attract and retain talent across generations, addressing diverse financial wellness needs in the workplace.
Il secondo rapporto annuale di PNC Bank sulla salute finanziaria nel posto di lavoro rivela bisogni finanziari differenti tra la forza lavoro multigenerazionale americana. I principali risultati dell'indagine condotta su oltre 1.000 lavoratori americani e 500 datori di lavoro includono:
- La Generazione Z è la più stressata finanziariamente (76%), seguita dai Millennials e dalla Generazione X (72% ciascuno), poi dai Boomers (59%).
- Gli obiettivi finanziari principali variano a seconda della generazione, con la Generazione Z che si concentra sui punteggi di credito mentre gli altri danno priorità al risparmio per la pensione.
- I benefici svolgono un ruolo importante nella retention dei lavoratori più giovani, in particolare della Generazione Z (92%) e dei Millennials (85%).
- Il debito studentesco è una preoccupazione significativa, con il 54% che lo considera il debito più difficile da gestire.
- L'accesso ai benefici di pianificazione finanziaria è raddoppiato per i lavoratori nell'ultimo anno.
Il rapporto sottolinea l'importanza di programmi di benefici personalizzati per attrarre e trattenere i talenti attraverso le generazioni, affrontando le diverse esigenze di benessere finanziario sul lavoro.
El segundo informe anual de PNC Bank sobre bienestar financiero en el lugar de trabajo revela diversas necesidades financieras en la fuerza laboral multigeneracional de Estados Unidos. Los hallazgos clave de la encuesta realizada a más de 1,000 trabajadores estadounidenses y 500 empleadores incluyen:
- La Generación Z es la más estresada financieramente (76%), seguida de los Millennials y la Generación X (72% cada uno), y luego los Baby Boomers (59%).
- Las principales metas financieras varían por generación, con la Generación Z enfocándose en los puntajes de crédito, mientras que los demás priorizan el ahorro para la jubilación.
- Los beneficios juegan un papel importante en la retención de trabajadores jóvenes, especialmente de la Generación Z (92%) y los Millennials (85%).
- La deuda estudiantil es una preocupación significativa, con el 54% considerándola la deuda más desafiante.
- El acceso a beneficios de planificación financiera se ha duplicado para los trabajadores en el último año.
El informe destaca la importancia de programas de beneficios a medida para atraer y retener talento a través de las generaciones, abordando diversas necesidades de bienestar financiero en el lugar de trabajo.
PNC 은행의 두 번째 연례 직장에서의 재정 웰빙 보고서는 미국의 다세대 인력의 다양한 재정적 필요를 보여줍니다. 1,000명 이상의 미국 직장인과 500명의 고용주를 대상으로 한 설문조사의 주요 결과는 다음과 같습니다:
- 젠지(Gen Z)가 가장 많은 재정적 스트레스를 받음 (76%), 그 뒤를 이어 밀레니얼 세대와 X세대(각각 72%), 그리고 베이비 붐 세대(59%)가 있습니다.
- 세대별로 주요 재정 목표가 다르며, 젠지는 신용 점수에 집중하고 다른 세대는 은퇴 저축을 우선시합니다.
- 혜택은 젊은 근로자를 유지하는 데 중요한 역할을 함, 특히 젠지(92%)와 밀레니얼 세대(85%)에서.
- 학생 부채는 중요한 문제로, 54%가 가장 어려운 부채로 간주합니다.
- 재정 계획 혜택에 대한 접근이 지난 1년 동안 두 배로 증가했습니다.
보고서는 세대 간으로 인재를 유치하고 유지하기 위한 맞춤형 혜택 프로그램의 중요성을 강조하며, 직장 내 다양한 재정적 웰빙 요구를 다루고 있습니다.
Le deuxième rapport annuel de PNC Bank sur le bien-être financier au travail révèle des besoins financiers variés au sein de la main-d'œuvre multigénérationnelle américaine. Les principales conclusions de l'enquête menée auprès de plus de 1 000 travailleurs américains et 500 employeurs incluent :
- La génération Z est la plus stressée financièrement (76%), suivie des Millennials et de la génération X (72% chacun), puis des Baby Boomers (59%).
- Les principaux objectifs financiers varient selon les générations, la génération Z se concentrant sur les cotes de crédit tandis que les autres privilégient les économies pour la retraite.
- Les avantages jouent un rôle important dans la fidélisation des jeunes travailleurs, en particulier la génération Z (92%) et les Millennials (85%).
- La dette étudiante est une préoccupation significative, 54 % la considérant comme la dette la plus difficile.
- L'accès aux avantages de planification financière a doublé pour les travailleurs au cours de l'année dernière.
Le rapport souligne l'importance des programmes d'avantages adaptés pour attirer et retenir les talents à travers les générations, répondant aux divers besoins de bien-être financier en milieu de travail.
Der zweite jährliche Bericht von PNC Bank über finanzielle Gesundheit am Arbeitsplatz zeigt unterschiedliche finanzielle Bedürfnisse in der multigenerationalen Belegschaft Amerikas. Zu den wichtigsten Erkenntnissen aus der Umfrage unter über 1.000 US-Arbeitnehmern und 500 Arbeitgebern gehören:
- Die Generation Z ist am finanziell gestresstesten (76%), gefolgt von den Millennials und der Generation X (jeweils 72%), dann den Boomern (59%).
- Die wichtigsten finanziellen Ziele unterscheiden sich je nach Generation, wobei die Generation Z sich auf Kreditbewertungen konzentriert, während andere für das Altersvorsorge sparen.
- Leistungen spielen eine wichtige Rolle bei der Bindung junger Arbeitnehmer, insbesondere bei der Generation Z (92%) und den Millennials (85%).
- Studienkredite sind ein erhebliches Anliegen, wobei 54% dies als die herausforderndste Schuld empfinden.
- Der Zugang zu finanziellen Planungsleistungen hat sich im letzten Jahr verdoppelt.
Der Bericht hebt die Bedeutung von maßgeschneiderten Leistungsprogrammen hervor, um Talente über Generationen hinweg zu attrahieren und zu halten und dabei verschiedene Bedürfnisse an finanzieller Gesundheit am Arbeitsplatz zu berücksichtigen.
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Annual Financial Wellness in the Workplace Report Highlights Workplace Stressors, Benefits Needs and Financial Goals Across Generations
Perhaps unsurprising in the current turbulent macroeconomic environment, the survey findings show that employers are continuing to feel the squeeze financially with the increased costs of benefits, worker retention and recruiting. Employers also recognize that their workforce – now spanning four generations – has increased challenges and stress about their personal finances, with
Notable findings include:
- Gen Z is the most stressed about personal finances. Of surveyed
U.S. workers, personal finance stress was highest with Gen Z (76% ), followed by Millennials (72% ) and Gen X (72% ), then Boomers (59% ). - Top financial goals vary by generation. Gen Z's top priority is strengthening their credit rating, while Millennials, Gen X and Boomers all prioritize saving for retirement.
- Benefits play a larger role in retaining Gen Z and Millennial workers. The likelihood of staying with an employer that offers more financial wellness benefits was highest among Gen Z (
92% ), followed by Millennials (85% ), Gen X (72% ) and Boomers (64% ). - Gen Z and Millennials are the most concerned about student debt. Results indicated student loan debt is difficult, with
54% of respondents saying it's the most challenging debt to tackle. - Gen X workers surveyed were the least likely generation to have worked with a financial planner, with the majority sharing that they do not have enough money to justify using one.
"The varying financial goals and priorities across America's generationally diverse workforce shows how important it is to offer a mix of benefits that can appeal to a wide range of employee needs," said Kaley Keeley Buchanan, senior vice president and head of PNC Organizational Financial Wellness. "In order to hire and retain great people across generations, which is critical to bringing diverse thinking and experience to your workforce, you must understand their needs and appeal to them. PNC's Organizational Financial Wellness team offers businesses in-demand benefits to help meet the needs of their diverse workforces and improve productivity, performance and loyalty."
Additional notable findings include:
- Three in 10 U.S. workers surveyed who have student loan debt say they are "at a standstill" until it is paid off. This increases to four in 10 among Gen Z workers.
- In the last year, access to financial planning benefits doubled for American workers surveyed. Notably,
28% had access to financial planning benefits in 2024 compared to14% in 2023. One in three used a financial professional in the last three years. - Three in five
U.S. workers surveyed say they are living paycheck to paycheck. This sentiment is highest among Gen Z and Millennials.
As the needs of the talent market evolve, so should the way that businesses address them, if they want to attract and retain talent to effectively drive business performance. PNC Organizational Financial Wellness can help companies develop and implement innovative, tailored benefit programs that work well for them and for the talent they want to recruit and retain. More findings, including the complete report and related information are available at pnc.com/WorkplaceReport.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in
Methodology
The PNC Financial Wellness in the Workplace Report 2024 was conducted with employees and employers. The Employee Survey was conducted online with a national sample of 1,001 employees ages 21–69 who work full-time at companies with 100+ employees. The sampling error is +/-
DISCLAIMER: This report was prepared for general information purposes only and is not intended as specific advice or recommendations. Any reliance upon this information is solely and exclusively at your own risk. NOTE: The sum of percentages may not add to the total due to rounding.
CONTACT:
Christina Davis
(214) 871-1259
christina.figg@pnc.com
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SOURCE PNC Bank
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