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Why HR should consider offering an emergency savings account benefit

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Like the Road Runner from Wile E. Coyote, financial security still eludes many employees.

Some 54% of employees surveyed by Betterment in October 2022 said financial anxiety has impacted their ability to focus at work. And 47% said an employer-sponsored emergency fund would “entice” them to change jobs.

And yet, just 2% of employers offer emergency savings accounts (ESAs), according to the Society for Human Resource Management’s 2023 Employee Benefit Survey.

The nuts and bolts. ESAs are post-tax savings accounts that can be funded by employers and employees. As the name suggests, Robertson said, these accounts are designed to provide employees a nest

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