A balanced effort between employers and employees is key to supporting financial security and company loyalty

American workers are navigating a complex landscape of financial pressures, mental health concerns, and the desire for workplace adaptability according to the latest survey from Franklin Templeton. In its fifth year, Franklin Templeton’s Voice of the American Workplace Survey found nearly half of workers (49 percent) identify protecting their mental health as a top priority, while 54 percent express fear they will not be able to maintain their desired quality of life in retirement. Additionally, 70 percent state that financial security—having enough money to live comfortably for the rest of their lives—is critically important.

“The survey findings highlight the need for a balanced effort between employers and employees to foster financial security, mental health support, and workplace adaptability,” said Jacque Reardon, Head of US Marketing for Franklin Templeton. “Employers who embrace these opportunities can build stronger relationships with their workforce, enhancing retention, loyalty, and long-term success.”

One of the most significant findings is that 88 percent of employers report employees are willing to leave their jobs if dissatisfied, even without clear alternatives. Employers also face ongoing struggles with compensation, as 76 percent of employees indicate their organizations are struggling to find adequate resources to meet demands for increased pay. Additionally, 90 percent of employers now view retirement planning as a collaborative effort with their employees. However, 59 percent of workers admit they don’t fully understand or maximize their company benefits.

“Employers can seize the opportunity to educate employees on available benefits and prioritize clear communication and collaboration to ensure employees can leverage the most impactful benefits,” said Steve McKay, Head of Retirement, Insurance and College Savings for Franklin Templeton. “Retention strategies should focus on foundational benefits like pay, 401(k) matches, and health insurance, while actively seeking employee feedback to strengthen engagement and loyalty.”

The survey found that 92 percent of employers believe investing in employees’ financial futures drives loyalty while 87 percent indicate retirement plans are a key factor in attracting top talent.

Work-life balance and mental health are top concerns for employees, particularly younger workers facing challenges like student loans and housing costs. Fifty percent of workers cite work-life balance as their top priority and 78 percent emphasized the importance of having a good work-life balance over salary increases. Meanwhile, 76 percent of workers indicate mental health support has become increasingly important, while mental health benefits ranked as the most utilized benefit at 41 percent, underscoring the critical role employers play in fostering employee well-being.

The survey was conducted by The Harris Poll on behalf of Franklin Templeton and the Retirement Innovation Initiative (RII), which launched in January 2020 and brings together industry experts to help improve the future of retirement in the U.S.

Methodology

The Voice of the American Employer Survey was conducted by The Harris Poll on behalf of Franklin Templeton from November 25 to December 6, 2024. All 1,002 respondents, based in the United States, are classified as employers, defined as having at least some influence over company benefits and/or hiring at organizations with over 100 employees. Respondents represent a mix of industries, company size, role, age, and race.

The Voice of the American Worker Survey was conducted by The Harris Poll on behalf of Franklin Templeton from November 27 to December 10, 2024, among 2,018 employed US adults. All respondents had some form of retirement savings. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.

About Franklin Templeton

Franklin Resources, Inc. [NYSE: BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.58 trillion in assets under management as of February 28, 2025. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

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