Nearly half of all employers plan to offer workplace emergency savings programs by next year: learn why with Sunny Day Fund®
Why Emergency Savings as a Benefit?
Higher Retention
Savers within a 700-person employer had 33% less turnover relative to overall turnover from Jan – Sep 2023 (p<0.05). Based on Sunny Day Fund Customer Analysis.
Fewer Loans & Withdrawals
CFPB found 59% of people withdrew early from their retirement savings when they had no emergency savings, compared to 9% who had saved for at least one month.
More Resilient & Healthy
People scored 10 points higher in their CFPB Financial Well-being Scores and reported lower stress when they saved for at least $1,000 versus having no savings.
Emergency Savings Account Powered by Behavioral Economics
For Employers
Improve financial well-being, lower stress, and achieve financial inclusion & health equity with emergency savings.
For Employees
Save for rain or shine, withdraw when needed, earn employer-sponsored cash rewards, and achieve your financial goals.
Workplace Emergency Savings + Benefits Blog
- How the SAVE Plan Can Boost Your Financial Well-BeingThe SAVE plan is a breath of fresh air for those with education debt. It’s a strategic financial tool that enables borrowers to balance loan obligations with financial ambitions. The plan’s flexibility and the potential for reduced payments and loan forgiveness offer a pathway toward a more secure financial future.
- Employee Financial Wellness Programs ExplainedEmployee recruitment and training costs can be huge, so retaining talented staff is a key priority. Small businesses can improve job satisfaction and loyalty by providing financial wellness programs and reducing turnover and related costs.
- Comparing Employee Financial Well-Being BenefitsEmployee financial well-being benefits especially affect employee retention, job satisfaction, and overall productivity. Both traditional benefits like 401(k) plans and innovative solutions like emergency savings accounts have unique advantages that contribute to employees’ financial well-being.
- Understanding your PLESA Benefits Opportunity To fully leverage your PLESA benefits, you need to understand the program’s specifics. Established under the SECURE 2.0 Act, a PLESA is a unique type of savings account designed to promote emergency savings. It presents several unique features that differentiate it from typical savings or retirement accounts.
- Employee Resilience: The Psychology of Financial Stress and ESA BenefitsTo foster workplace resilience, organizations must support their employees in finding effective ways to manage stress and promote financial health, thus shaping a foundation for enhanced team resilience and overall well-being.
- Building an Employee Emergency Savings FundUnexpected financial emergencies are a reality of life. These unforeseen situations can catch employees off guard, causing […]