Why you should consider offering an emergency savings program

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Financial insecurity is rampant among employees: Data estimates that 37% of Americans can’t easily come up with $400 in the event of an emergency and two-thirds of Americans believe they will run out of their savings in the next five months. Overall, more than half of Americans are financially vulnerable—and it goes beyond young and low-income workers.

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“It’s not just the Gen Z population, but millennials, Gen X and baby boomers, and a lot of people with bachelor’s or even advanced degrees, are financially vulnerable,” Charles Knuth, director of SoFi at Work, said last week at HRE’s Health & Benefits Leadership

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