The number of workers asking employers for financial advice is soaring, study finds

The number of U.S. workers turning to their employers for help navigating immediate financial pressures is rising sharply, according to Bank of America’s latest 2025 Workplace Benefits Report published Wednesday. 

In a survey conducted in May of 1,000 full-time employees, 26% said they are actively seeking support with emergency savings, debt reduction, and general financial wellness. This compares to 13% reported in 2023, almost doubling in two years. 

Despite this rise in short-term concerns, longer-term financial sentiment remains cautiously optimistic: approximately seven in 10 respondents expect their financial situation to improve over the next three years.

“The modern employee wants help with their broader financial goals,” Lorna Sabbia, Bank of America’s Head of Workplace Benefits, said in a statement. Sabbia urged employers to offer resources that support both immediate needs and long-term goals.

The report also highlights additional areas where employees are asking for help. About one-third of respondents reported seeking guidance for each of the following categories: retirement planning, generating income during retirement, and cultivating sound financial habits.

The research underscores the impact persistent inflation and mounting living expenses continue to have on the workforce.

Employees are juggling both short- and long-term financial priorities — making it tougher to save while also covering day-to-day costs. Meanwhile, debt delinquencies have been growing — even among those with strong credit. Nearly 85% of Americans in full-time work report holding some form of personal debt. 

Employees say this causes them stress and a loss of focus and productivity, according to the survey. Despite this, fewer than one in three companies offer credit counseling or debt assistance aside from student loans, it found.

The heightened need for employer support also comes as the labor market continues to cool. The Labor Department reported Wednesday that job openings slipped in July, with around 200,000 fewer postings compared to the month prior, coming in below what economists had forecast. Layoffs also rose slightly in July, according to the data. The number of Americans quitting their jobs — often an indicator of confidence in the job market — was unchanged from June.