Financial stress in the workplace can have a measurable effect on the well-being of individuals and organizations alike. But in a multigenerational workforce, some generations may be feeling the effects of the stress less acutely than others. This seems to be the case for the Baby Boomer* generation, who reported the least amount of financial stress among the four generations currently in the workforce, based on survey results as shared in the 2024 Financial Wellness in the Workplace Report, conducted by PNC Organizational Financial Wellness.  

Here are some of the key findings that Boomer workers in the U.S. provided:

  1. While Boomer workers were by comparison the least financially stressed group among all surveyed generations, a majority of Boomer respondents (59%) shared that they were very or somewhat stressed about their personal finances, compared to 76% of Gen Z and 72% of Millennial and Gen X workers.
  2. Perhaps unsurprisingly, Boomer and Gen Z workers are the most likely generations to have no debt, at 21% and 22%, respectively, compared with 14% of Millennial and 11% of Gen X workers.
  3. Continuing to save for retirement is the highest priority for Boomer workers, with 72% listing it as their top financial goal.
  4. Financial wellness benefits do not resonate as strongly with Boomer workers, compared with other generations in terms of employee retention, but they still matter. In the survey, 64% of Boomer workers said they are much more or somewhat likely to stay with an employer that offers more financial wellness benefits, versus 92% of Gen Z workers.
  5. Boomer workers are the generation most likely to have worked with a financial planner – but only 33% of survey respondents said they had done so. For those Boomer workers who had not worked with a financial professional, 53% of them cited not having enough money to use one as their primary reason. Boomer workers are also the least likely generation to say they would use financial education benefits if offered, at 44%, compared with 63% of Gen Z workers.

But even if research shows that Boomer workers are faring better than other generations in some aspects, what’s clear is that all generations expressed stress about their personal finances – and employers can play a role in helping to alleviate concerns.

“It’s important for employers with multigenerational workforces to be attuned to the specific needs of each group and find ways to meet them where they are,” said Kaley Keeley, head of PNC Organizational Financial Wellness. “Boomer worker needs are going to look different than those of younger workers who are just starting their careers and might be more focused on things like building their credit or managing student loans, for example.

“As they approach their retirement years, Boomer workers are looking for ways to secure the strongest possible financial future, and employers can be there to meet them halfway in that goal. One way to do that may be through offering innovative benefit solutions focused on improving financial wellness,” she said.

Reproducción del seminario web: Las necesidades cambiantes de la fuerza laboral multigeneracional estadounidense

En el seminario web Bienestar financiero en el lugar de trabajo de 2024: las necesidades cambiantes de la fuerza laboral multigeneracional estadounidense, los panelistas de PNC ofrecieron un debate en profundidad sobre los resultados de la encuesta. Aquí encontrará la repetición.

Metodología de encuestas

El Estudio sobre bienestar financiero en el lugar de trabajo de 2024 se realizó a principios de 2024 y encuestó a dos poblaciones diferentes: empleadores estadounidenses y trabajadores estadounidenses. La investigación se llevó a cabo en dos fases. La fase cualitativa incluyó entrevistas en profundidad, por separado, con empleadores y trabajadores en enero de 2024. La fase cuantitativa incluyó encuestas en línea separadas con empleadores y trabajadores entre febrero y marzo de 2024. La encuesta a empleadores se realizó en línea con una muestra nacional de 505 empleadores estadounidenses con más de 100 trabajadores e ingresos anuales de $5 millones o más. El error de muestreo es de +/- 4.4 % con un nivel de confianza del 90 %. La Encuesta de trabajadores se realizó en línea con una muestra nacional de 1,006 trabajadores estadounidenses de entre 21 y 69 años que trabajan a tiempo completo en empresas con más de 100 trabajadores. El error de muestreo es de +/- 3.0 % con un nivel de confianza del 90 %. El estudio fue realizado por Willow Research, una firma de investigación de mercados personalizada y empresa certificada de propiedad de mujeres.

La excelencia comienza aquí

A través de Bienestar Financiero Organizacional de PNC, los empleadores pueden ofrecer opciones significativas para ayudar a atraer, retener y motivar al talento, tales como programas de banca en el lugar de trabajo, cuentas de ahorros para la salud, asistencia para la deuda estudiantil, educación financiera en línea, servicios de plan de jubilación, acceso a sueldos ganados y orientación personalizada para empleados con necesidades bancarias complejas. Más información aquí.

*Boomer workers are defined as being born between 1946 and 1964.