Bank of America’s 2026 Workplace Benefits Report
Bridging the Gap Between Employer and Employees on Financial Wellness
As the talent acquisition and retention landscape continues to be challenging for businesses, a new study from Bank of America sheds light on how employees are viewing their financial wellness.
According to the new 2026 Workplace Benefits Report, there is a 16-point gap between how employers and employees view employee financial wellness. While 71% of employers believe their workforce is financially well, 55% of employees agree. This gap highlights an important opportunity for employers to strengthen financial wellness resources and education, helping employees better navigate financial stress and support their overall well-being.
Here are some of the trends and findings in the new BofA survey – uncovering how employers are navigating this unique economic landscape.
Economic Concerns Persist: 76% of employees feel stressed about the economy, 62% are "very concerned about inflation" and 75% cite cost of living as a challenge to their financial security.
Work-Life Balance is the Top Priority: Underscoring a major shift in career values, the top reason Gen Z/Millennial employees who considered leaving their job ultimately decided to stay was "good work/life balance" (69%).
Financial Confidence Rises: 55% of employees rate their financial wellness as “good or excellent”, a significant jump from 44% in 2023.
Credit Card Debt Declines: The percentage of employees carrying credit card debt dropped 11 points in just one year, from 56% in 2025 to 45% in 2026.
A Confident Outlook on Retirement: Even amid economic stress, retirement confidence is rising, with 73% of employees now feeling their savings are on track for retirement, a significant 6-point increase from 2025.
The Business Case for Closing the Gap: About half of employers currently offer formal financial wellness programs. Among those who do, about 9 in 10 report measurable benefits, including more satisfied, productive and engaged employees with greater talent retention rates.
For employers, the takeaway is clear: investing in your employees will have positive, long-lasting impacts on your business because the gap has implications for productivity, retention and the effectiveness of workplace benefits.