Employees would like their employers to provide access to a financial advisor, among other financial help, according to a recent survey by Activehours, a firm that arranges paycheck advances to wage employees.
When asked what an employer could do to help financially, other than provide a raise or a retirement savings plan, 16 percent of the 300 consumers surveyed said they would like their employers to provide access to a financial advisor. An equal number said they would like financial education workshops.
Eighteen percent said they would like flexible paydays (what Activehours provides). The firm enables members to get paid for the time they have worked at any point in the month.
The largest group, 47 percent, said they did not want anything else from employers other than a raise or retirement savings plan.
Nearly seventeen percent of those surveyed said their employer offers financial education and they take advantage of it, but an almost equal number said they don’t use it when it’s offered.
Thirty-four percent said they would not use financial education resources if offered, while nearly 33 percent said they would.
“This data shows there is more employers could be doing,” says Ram Palaniappan, founder of Activehours. “They can offer education and resources -- such as access to a financial advisor -- that will ultimately make their employees happier and more productive at work.”