The number of employers offering financial wellness programs as an employee benefit is growing, according to a new study by Arthur J. Gallagher & Co.
The financial offering is one of several enhancements that many employers are using to help attract and keep talented employees, says Gallagher, an insurance brokerage and risk management firm based in Rolling Meadows, Ill.
An employer who wants to keep talented employees must offer a strong benefits and compensation plan, according to the 2017 Arthur J. Gallagher & Co. Benefits Strategy & Benchmarking Survey, which collected data from 4,226 employers across the U.S.
The number of employers offering financial programs as part of an overall wellness plan has increased by three percentage points between 2016 and 2017, to 34 percent, the study says.
Although paid parental leave has received a lot of publicity in recent years, so far only 22 percent of companies offer it to both fathers and mothers, the report says.
Likewise, only 37 percent of employers measure the retirement readiness of their employees, Gallagher says.
“When employers rebalance their priorities to include benefits like professional development and a workplace culture that promotes employee engagement and total well-being, they differentiate themselves in the talent marketplace,” said William F. Ziebell, president of Gallagher Employee Benefits Consulting and Brokerage.