A new study reveals what employers need to know about how women view workplace benefits.

The Standard’s latest research on women, families and money reveals that as women see their incomes increase, they feel more confident about personal finance. But with those gains, they’re also less happy about their employee benefits.

Women Who Earn More Are Less Satisfied With Their Benefits looks at women’s perceptions of their financial savvy. The study also explores the impact of higher income and financial literacy on how women view benefits and what that might mean for employers seeking to retain and develop this critical workplace cohort.

Should Women Be More Confident in Their Financial Know-How?

Women report lower confidence than men in understanding money management, the financial system, employee benefits and how insurance works. When looking at their employee benefits specifically, a majority of both women and men say they’re knowledgeable. But fewer women (66%) express this opinion compared with men (74%). The disparity is similar for understanding how insurance works. Seventy-four percent of men report feeling assured in this area, while 65% of women say the same.

The research also reveals a significant gap in women’s and men’s self-assurance in managing money, with 70% of men vs. 60% of women saying they feel confident in this area. But the gap narrows when focusing on both groups’ willingness to learn about finances. Sixty-one percent of women say they’re actively trying to learn compared with 67% of men. These findings suggest women are avid students of personal finance and probably underestimate how much they know about it.

Women Are a Key Source of Household Benefits

Women may report lower confidence than men in benefits and insurance know-how, but two-thirds of women serve as primary providers of household benefits. That number rises to 72% for women making less than $50,000, a group that reports the lowest confidence overall in financial matters.

These findings point to an opportunity for companies. Tailoring benefits education programs for women would empower them to make more informed choices for themselves and their families.

Women With High Financial Savvy and Income Want More Out of Benefits

As their wages increase, women’s confidence in their financial know-how also rises. But as they become more financially astute, women are more critical of their benefits. Three-quarters of female workers with high financial acumen say they want employers to give more thought to caregiving when designing benefits packages. Over half say they should have different benefits than others in their households to ensure their needs are met. And 42% report struggling to understand benefits, a larger percentage than for women with less financial savvy.

Higher wages not only bring discontent with benefits, they also correlate with women feeling more limited in their choices for family and career. Of women making over $200,000, 35% say they’d like more children but can’t afford it. Only 29% of women earning less than $50,000 report the same. When it comes to changing careers, 42% of women earning over $200,000 say they’d like a shift, but don’t view it as economically feasible. Of women making under $50,000, only 35% feel this way.

This data suggests employers may need to adapt financial literacy and benefits communication programs for women at varied income levels, economic acumen and life stages.

Justin Delaney, senior vice president, External Affairs, Marketing and Communications at The Standard says, “To be most effective at retaining and engaging employees, workplace benefits need to meet the unique needs of different employee populations. Our research shows that employers have a significant gap — and opportunity — in meeting the needs of women employees with tailored employee benefits and financial education.”

Employers who want to recruit and keep women workers should consider offering flexible benefit packages and tailored education programs. Developing women leaders will require addressing the dissatisfaction that highly paid female employees have with their options for career, family building and benefits.

For more insights on this topic, visit Women Who Earn More Are Less Satisfied With Their Benefits.

Survey on the Evolving Landscape of Women and Money

• On behalf of The Standard, a third-party research firm conducted a 15-minute online survey of 5,000 participants. Most participants currently receive some employee benefits.
• Fielded: ~70% women (N=3,468) and ~30% men (1,523)
• Ages: 18 – 70
• Field dates: March 10 – 27, 2025

About The Standard

Established in 1906, The Standard is a family of companies dedicated to helping customers achieve financial well-being and peace of mind. We are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and group vision insurance, voluntary and supplemental benefits, absence management and paid family leave services, retirement plans products and services and annuities for employers and individuals. For more information about The Standard, visit standard.com and follow us on LinkedIn and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250911298678/en/

"Our research shows that employers have a significant gap — and opportunity — in meeting the needs of women employees with tailored employee benefits and financial education.”