May 2024
2024 Workplace Benefits Report
This year’s study discusses the resurging workforce, from employee optimism to expectations for the future.
Key takeaways
- Financial wellness for American workers is showing signs of a rebound. Today, 47% of American workers feel financially well, up from 42% at this time last year. Additionally, the number of employees concerned that economic uncertainty will affect their long-term retirement savings has dropped from 63% in 2023 to 53% this year.
- Job loyalty remains high. In fact, 70% of employees plan to keep their jobs for the next year, with good work/life balance as the top reason employees want to stay (66%). Of those who plan to leave, compensation (52%) was the top reason for the switch, followed by career growth (45%).
- However, there is a potential disconnect in retirement health care expenses. Current research shows that a retired 65-year-old couple could need more than $350,000 in savings to cover their retirement health care expenses. Yet, according to the report, only 7% of employees think their annual health expenses in retirement could total at least $10,000.
Read our full analysis for a more in-depth look at these trends.
