Employees are asking for more from their employers in 2024. While common benefits like Healthcare, Retirement, and PTO have become industry standards. Other emerging benefits are now coming to the forefront to help improve financial wellness.
Student Loan Assistance sits amongst the most highly desired benefits by college educated talent. As a debt reducing strategy, the benefit helps individuals consistently reduce the amount outstanding on their loans. While also providing meaning for employers by generating ROI like attracting talent 13% faster and retaining talent 36% longer.
In a recent article published by HR dive, ‘Debt Reduction Tools’ including Student Loan Assistance were listed as one of the top three ways employers can help employees make a ‘material change’ in their finances this year. A quote in the post reiterated this by stating ‘Programs like debt reduction are tangible, material things that people can use in real time to solve challenges in their life.’
To consider Student Loan Assistance today, visit our pick-a-plan page at www.getpeanutbutter.com/pricing
Reference: https://www.hrdive.com/spons/3-benefits-driving-material-change-in-workers-finances-this-year/714516/ (May2024)