Financial well-being dips for U.S. adults in August
Here’s how worries about money are affecting different demographics in the second half of 2021.
In no uncertain terms, U.S. adults are worried about their financial future.
However, these fears are not equally felt across all populations. Older demographics, such as baby boomers, and high-income earners are more likely to report stable financial wellness scores. However, for others, August saw a drop in confidence for their personal economic fortunes.
For business leaders, the data is a warning against seeing one’s own financial resilience as a stand in for the feelings of workers across your organization. Employees at the bottom of the pay scale are shown to have diminishing faith in economic recovery and stability going forward, driven by the ongoing effects of COVID-19 and the Delta variant.
What questions should you ask?
To learn how your own workforce is responding to the ongoing pandemic crisis, leaders must survey employees and create opportunities for feedback. The Morning Consult report offers some examples of questions to ask that can demonstrate financial well-being or lack thereof.
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