When we think about financial benefits at work, 401(k) plans are often considered the gold standard, right alongside health insurance. They’re widely recognized, heavily promoted, and often seen as a signal of a “real” job with long-term value. But there’s a catch: 401(k)s are often reserved for salaried employees.
For the 56% of American workers who are hourly, this kind of benefit may be out of reach — either because it’s not offered at all, or because the job turnover and unpredictable schedules common in hourly roles make it nearly impossible to participate meaningfully. These workers aren’t opting out — they’re being left out.
And while 401(k)s are designed for long-term retirement savings, most hourly workers need help with short-term financial survival, not just far-off planning. That’s why it’s time to rethink what financial wellness really means — and who it’s built for.
Why don’t traditional financial wellness programs work for hourly workers?
Hourly workers face a set of financial challenges that make traditional benefits less useful:
Pay that fluctuates week to week
No access to savings or retirement programs
Difficulty covering surprise costs, like car repairs or medical bills
Short job tenure that makes it hard to qualify for long-term benefits
37% of Americans can’t cover a $400 emergency expense without borrowing or selling something. In fact, 69% of workers are not financially healthy, which can make it difficult to fund contributions for traditional financial benefits like 401(k) plans. Many of these workers struggle with basic needs like paying bills on time and avoiding overdraft fees.
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When workers don’t feel financially secure, they’re more stressed, less focused, and more likely to leave.
What do hourly workers actually want from financial wellness benefits?
Hourly workers aren’t asking for flashy perks. They want practical, everyday tools that help them get by and build stability. Top needs include:
Earned Wage Access (EWA) so they can get paid as they earn
Early direct deposit to avoid late fees or payday loans
Emergency savings to handle unexpected expenses
Credit-building tools that don’t require taking on new debt
Overdraft protection to help prevent fees when money’s tight
Simple, intuitive financial tools that they can start using right away
Employee rewards that recognize their time and loyalty — not just traditional performance metrics
Ready to support your team?
Schedule a demo to see the impact that Chime Workplace can make on your workforce.
