Employers are taking a closer look at whether their benefits programs are delivering value, even as many workers remain underprepared for longer-term financial decisions.
Sixty-five percent of employers now measure the return on investment of their benefits offerings, which is up from 51% a year earlier, according to PNC Bank's 2026 Financial Wellness in the Workplace Report.
But the push to measure value is colliding with a sizable gap between how financially capable workers feel and what they actually know. While 71% felt confident creating a savings plan, only 33% demonstrated high proficiency in foundational financial knowledge, with investing, retirement planning, healthcare costs and emergency savings proving more challenging.
"Our research continues to show that many workers feel confident managing everyday financial decisions, but confidence doesn't always translate into long-term preparedness. When employers help employees build financial knowledge and connect them with guidance and resources, they can support stronger financial outcomes while helping employees get more value from the benefits available to them,” said Kaley Keeley Buchanan, executive vice president and head of PNC Financial Wellness Solutions.
That lack of preparedness is already showing up at work. Eighty-five percent of workers said they worry about personal finances during the workday, spending an average of 3.5 hours a week focused on those concerns. Employers reported seeing the effects through reduced productivity, borrowing from retirement plans, requests for pay advances and wage garnishments.
The disconnect becomes even clearer around retirement. Three-quarters of employers said their workers were at least somewhat prepared for retirement, compared with 45% of workers who described themselves that way. Just 10% said they felt very prepared, while 15% said they did not believe they would ever be able to afford to retire.
Those gaps are emerging as employers become more cost-conscious about benefits overall. Lockton's 2026 National Benefits Survey found that 54% now rank reducing costs as the most important factor influencing benefits decisions, up from 38% in 2025. Meanwhile, attracting and retaining talent fell to 19%.
That cost pressure is putting more focus on whether existing benefits are actually reaching employees. Concerns around the employee benefits navigation gap have highlighted how employers can spend heavily on benefits while workers struggle to understand or use what is already available.
PNC's findings point to a similar challenge in financial wellness. Only 32% of employers offer financial education benefits, while 57% of workers without access said they would use them if available. Forty-two percent of workers had also worked with a professional financial planner or adviser at some point, with those respondents reporting greater confidence in budgeting, debt management, savings, retirement planning and investing.
Other research suggests workers will engage when support is available. PwC's 2026 Employee Financial Wellness Survey found that among employees whose organizations offered financial wellness services, 83% of Gen Z workers and 79% of millennials used them to help control spending, reduce debt or increase savings.
That makes utilization harder to separate from the broader question of value. A benefits package may look comprehensive on paper, but its return is harder to justify if employees cannot find, understand or use the support available to them.
"Employers continue to invest in benefits, but the real opportunity is helping employees understand, access and use those benefits in ways that improve financial outcomes. By aligning benefits with employees' needs and measuring outcomes, employers can help build a more financially resilient workforce,” Buchanan said.
