While workers are feeling hopeful over market conditions, many report having to delay retirement because of the economy.<\/p>\n
New research from Principal<\/a> found that 69% of employers say their workers are postponing retirement because of the economic environment, citing financial security as a leading concern.<\/p>\n Other factors, including healthcare costs and fears over outliving savings have also led some to reconsider retirement dates.<\/p>\n The findings underscore the need for personalized advice in the workforce, highlights Teresa Hassara, senior vice president of Workplace Savings and Retirement Solutions at Principal. \u201cPeople want to understand where they stand today and what they can do next. A strong retirement plan can help by bringing together savings, guidance, and income strategies that support long-term financial confidence,\u201d Hassara said in a statement.<\/p>\n Employers are also struggling to feel confident in the market, despite reporting improved sentiments compared to prior years. Principal\u2019s Financial Well-Being Index<\/a> shows that employer confidence has risen to 6.55 out of 10, from 6.06 in March, due to improved outlooks on the health of U.S. and local economies.<\/p>\n However, sentiments remain low compared to 2023 and 2024 levels, which ranged from 7.25 to 8.08.<\/p>\n The rebound could be tied to technological developments in the workforce, including the introduction of artificial intelligence (AI) in some workforces. The number of employers who haven\u2019t adopted AI in their workforce fell from 19% to 10%, as more employers look to streamline business operations with the technology.<\/p>\n According to Principal, 31% of employers expect AI adoption to grow staffing and wages over the next 12 to 24 months, while 24% believe wages will increase and staffing will remain the same. Just 4% expect staffing and wages to fall due to AI implementation.<\/p>\n