The problem with survey data is that it often times focus on a specific issue in absence of the full picture. I recently revisited Aon’s 2016 retirement and investment survey, summarized well in this infographic, stating Expanding financial well-being is the top employer initiative for 2016.
It seems rational that in the context of retirement and financial well-being that ‘financial well-being’ should always be the top priority (for maintenance and expansion). What seems somewhat (ir)rational is why this is seen and evaluated separately from the other benefits and services employers offer to employees.
Clearly it is important for employers to support the financial well-being of employees, but within the broader benefits space I wonder what the benefits consultants within Aon (who work with the millions of dollars large companies are investing in health and other benefits) would say about relative priorities and focus?
Companies such as Aon can also play an important role and create added value for its clients by measuring the impact of the financial well-being initiatives, as called for within this article: Implementing a financial wellness program without any means of measuring its success is a failure, according to advisers and analysts. Such information will greatly assist employers with System 2 rather than System 1 decision making!