The past year has been a challenging one for many Americans, and it has had a meaningful impact on their financial confidence. Only 34% of Americans felt financially healthy closing out 2021, a 14% drop from the beginning of the year. Financial challenges weighed even heavier on women, with barely a quarter saying they felt financially healthy.

Women trailing men in feeling financially healthy

Source: Empower and Personal Capital, Wealth and Wellness Index Survey, November 2021.

Empower research and recordkeeping data provide in-depth insights as to women’s sentiments and behaviors regarding planning, saving and investing. These insights point to five tangible steps employers can take to help boost women’s financial confidence:

1. Empower them to set informed goals and expectations.
2. Help them build emergency savings funds and pay off debt.
3. Focus on closing the gender retirement savings gap.
4. Offer and encourage the use of professional financial advice.
5. Encourage financial planning.

To learn more about how to help increase women’s financial confidence, download the research brief. And to learn more about Americans’ overall financial confidence, click here.