Fifty-one per cent of over 4,000 respondents choose to switch employers in a bid to guarantee frequent pay.
30 per cent revealed that they worry about money while at work as inflation continues to narrow the gap between their pay and expenses.
The fact that a lot of organizations don’t give their employees greater control over their finances seems to be contributing to workers’ worries.
Employees are therefore demanding financial wellness that gives them higher control over their finances both from their employees and financial institutions.
With inflation increasing at a fast pace, workers may be forced to neglect traditional banks for on-demand pay or other systems that give them more control over their finances.
For Jennifer White, a senior consultant in banking and payment intelligence with J.D. Power, banks need to support the financial health of their customers.
Banks can also help reduce the financial stress faced by customers by offering programs that provide clients with faster access to direct deposit or access to emergency funds.