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With inflation continuing to drive prices upward on a broad range of products and services, financial wellness is top of mind for nearly everyone. According to a recent Bank of America survey, 62% of employees are stressed about their finances and 71% feel the cost of living is outpacing growth in their income. All told, the percentage of employees who feel financially well dropped to a five-year low of 44% in July 2022.
This is important news for employers, nearly all of whom feel at least partially responsible for their employees’ financial wellbeing. There is good reason to
