Bridging the Gap: How Dayton Employers Can Support Employee Financial Wellness for Greater Retention and Growth

By Mel S. Rodriguez, Senior Vice President, Global Commercial Bank, Bank of America

In today’s dynamic economic landscape, talent acquisition and retention remain top of mind for business leaders across the Greater Dayton region. As local companies compete for skilled workers and look to foster resilient, high-performing teams, a critical factor is emerging as a competitive differentiator: employee financial wellness.

According to the newly released Bank of America 2026 Workplace Benefits Report, there is a noticeable disconnect between how corporate leaders and workers view employee financial health. Closing this gap presents a powerful opportunity for Dayton-area employers to reduce workplace stress, boost productivity, and build long-term loyalty.

The Perception Gap: 71% vs. 55%

The study reveals a significant 16-point perception gap between employers and employees:

• 71% of employers believe their workforce is financially well.
• Only 55% of employees agree that they feel financially secure.

This disparity highlights that while business leaders may feel confident in the benefit packages they offer, many employees are still actively navigating financial stress behind the scenes.

Key Workplace Trends & Economic Realities

The 2026 report outlines several defining trends shaping the modern workforce:

1. Economic Stress and Inflation Remain Top Concerns

Even as local economies stabilize, everyday financial pressures continue to weigh on workers:

• 76% of employees report feeling stressed about the overall economy.
• 75% cite the cost of living as a major hurdle to their long-term financial security.
• 62% remain “very concerned” about inflation, impacting how far their paychecks stretch.

2. Work-Life Balance Drives Retention

In a major shift in career values—especially among younger generations—compensation alone isn’t the sole driver of employee longevity. Among Gen Z and Millennial employees who considered leaving their current position, 69% chose to stay due to strong work-life balance.

3. Encouraging Signs of Financial Resilience

Despite ongoing economic headwinds, employees are taking proactive steps to strengthen their personal balance sheets:

• Rising Confidence: 55% of employees rate their overall financial wellness as “good or excellent”—up significantly from 44% in 2023.
• Shedding Debt: The percentage of workers carrying credit card debt dropped by 11 percentage points in one year (from 56% in 2025 to 45% in 2026).
• Retirement Readiness: 73% of employees feel their savings are on track for retirement, a 6-point increase from 2025.

The Business Case: Why Financial Wellness is an ROI Strategy

Financial stress doesn’t stay at home—it directly impacts focus, attendance, and performance in the workplace. Providing targeted financial education and wellness resources is no longer just a nice-to-have perk; it is a vital business strategy.

Currently, only about half of employers offer formal financial wellness programs. However, among companies that do: 9 in 10 employers report measurable business benefits, including improved employee satisfaction, heightened productivity, stronger engagement, and significantly higher talent retention rates.

Action Steps for Dayton Employers

To close the financial wellness gap and support your workforce, consider the following strategies:

• Audit Your Current Offerings: Go beyond traditional healthcare and basic retirement plans. Evaluate whether your benefits address immediate needs like emergency savings, debt management, and budgeting education.
• Promote Education & Personalization: Provide accessible, confidential tools that empower employees to track their personal goals and learn at their own pace.
• Foster Open Communication: Conduct internal surveys to understand the specific financial challenges your employees face rather than assuming existing programs meet their needs.
• Leverage Strategic Partner Resources: Utilize institutional partners like Bank of America, which offer integrated platforms designed to help employees personalize their financial goals while easing the administrative burden on HR and benefits managers.

Moving Forward Together

Investments in employee financial wellness create a positive ripple effect throughout the entire organization—leading to a more focused workforce, reduced turnover, and a stronger bottom line. As Dayton continues to grow as an innovation and commerce hub, ensuring our regional workforce feels secure and supported remains essential to collective economic prosperity.

For more insights, tools, and workplace benefits solutions, reach out to your local Bank of America representative.