A recent survey by Voya Financial reveals that 77% of employees intend to dedicate more time to reassessing their benefit elections during the 2025 open enrollment period, up from 69% the previous year. This change shows that there is more attention on understanding and improving employee benefits.
Additionally, 63% of Americans surveyed said that their financial stability directly impacts their mental health. This shows an increase from 57% over the past two years. It highlights the connection between financial well-being and overall health.
Despite these positive trends, Voya researchers point out that only about half of workers feel “very” or “somewhat” prepared for retirement. This shows the need for better education and resources to help employees make informed retirement decisions.
These findings are important because fewer than half of employees know how to sign up for their employer-sponsored benefits, according to an October report from New York Life Group Benefit Solutions. This knowledge gap emphasizes the importance of continuous benefits education throughout the year.
Voya Financial President John Brett emphasizes that employers can play a crucial role by providing decision-making guidance, helping employees make smarter choices that support both their financial wellness and retirement readiness.
For more insights on open enrollment strategies and employee benefits education, explore our HR Tech News.
News Source: Hrdive.com
