COMP NEWS – A survey done by Bank of America indicates the 4-day workweek is the benefit employees want most.

What employees say they most value seems to fluctuate with trends in the economy and culture. While inflation has cooled somewhat from its historic peak in 2022, workers are still feeling the impact. More than half of U.S. adults told The Harris Poll and the American Staffing Association in January that their paychecks were still not keeping up with inflation, and nearly 4 in 10 said they were in an even more stressful situation than the year before. 

 

While Bank of America found feelings of financial wellness appear to be trending upward, the numbers still aren’t stellar, with fewer than half of workers reporting their financial wellness was good or excellent. Slightly over half of men reported high financial well-being, while women lagged behind at 36%. 

 

But employers shouldn’t worry too much about employees leaving for new jobs; Bank of America also found 70% of workers plan to stay at their company for the next year, reflecting a trend that some are calling “the big stay.” 

The survey also found that while men were generally more financially secure, women reported feeling better about their career outlook.

• Bank of America found that workers are overall feeling more confident, with 47% rating themselves “financially well,” compared to 42% in 2023. But they remain concerned about inflation and the cost of living. Workers also cited better compensation as the top factor that could lure them away from their current jobs.
• The financial firm also found gaps in workers’ experiences: Men said they were more financially secure, more confident in their retirement savings and more amenable to in-office work. But slightly more women said they felt better about their career outlook. Bank of America surveyed 955 employees and 804 employers over the winter for its report.

To read more about Bank of America’s survey, click here.

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