How financial wellness quietly became the new retention battleground

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RBC Group Advantage’s Kristin Dolynski on bridging the gap between optimism, reality, and retirement readiness

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“Employees are looking to their employers for more than a paycheque. But not all employers are aware of this or know how to provide the support their employees are seeking”

Kristin Dolynski, RBC Group Advantage

Dolynski says it’s important that employers recognize and address this divergence. “Employees are looking to their employers for more than a paycheque,” she notes. “But not all employers are aware of this or know how to provide the support their employees are seeking.” The poll highlights just how wide the expectations gap is. Close to two-thirds of employees said they worry about day-to-day expenses interfering with their long-term savings. By contrast, only a minority of employers recognized this as a significant barrier. This disconnect matters because financial stress is no longer a private issue; it spills into the workplace. Employees preoccupied with money are more likely to be disengaged, absent, or searching for new jobs. Employers that act to address these employee concerns can see measurable gains. Dolynski points to companies that embed financial education and access to advice into their workplace benefits, noting that such programs can lead to stronger employee loyalty and lower turnover. Dolynski adds that RBC Group Advantage has helped employers by hosting onsite financial advice sessions and offering digital webinars, which employees later reported had given them higher confidence in their retirement planning. “We’ve had employees thank us for helping them explore different options so they could make truly informed decisions,” Dolynski says. Others described relief at discovering resources they didn’t know were available through workplace programs.

Another consideration for employers: generational divides make the picture even more complicated. Millennials and Gen Z brim with confidence that they’ll retire before 65, in contrast to the reality many older workers are facing as they delay retirement. Some younger workers picture part-time work; others imagine entrepreneurial ventures or other creative pursuits in their later years. “It’s easier to believe anything is possible when you’re just starting out,” Dolynski notes. “The question is whether you’ll have the financial means to support whatever future goals you have in mind.” Here again, the poll reveals tension. Younger workers want meaningful futures but aren’t always taking the concrete steps to fund them. Employers who fail to recognize this gap risk losing credibility with a generation that prizes not only salary but also practical support like tools for budgeting, saving for a down payment, and long-term investing. RBC Group Advantage helps fill that gap with layered support: virtual and in-person advice, self-serve digital tools, and savings programs that fit different life stages. For someone who is just starting a family, this may mean strategies to save toward a child’s education or the purchase of a home, while for those closer to retirement, it could mean strategies to accelerate retirement contributions.

The poll found that more than half of Canadian employers now see group savings programs as critical to attracting and retaining staff. That’s not surprising as benefits have slowly become the new battleground for talent. Salary may get candidates in the door, but comprehensive financial wellness programs help keep them there. RBC’s approach puts dedicated relationship managers at the forefront, helping ensure that programs evolve with both business and workforce needs. Programs shift to match demographics, add webinars on topics like debt management, and provide digital resources for workers spread across different locations.

Technology makes these services more accessible, but Dolynski emphasizes that the human element is hard to replace. “Many employees have unique financial situations that can’t be fully addressed by technology alone, especially during big life changes and market downturns,” she says. The results are tangible. Employers with strong financial wellness programs often report improved engagement, fewer distractions, and even lower absenteeism. Recruiting also gets easier: job postings that advertise group savings programs or access to advisors stand out in a crowded market. In an economy where every edge matters, that can be decisive. The real shift, Dolynski underlines, is viewing financial wellness less as a cost and more as infrastructure, similar to technology or training, that underpins long-term performance. “When employers invest in the overall well-being and financial future of their employees,” she says, “they are also investing in the future of their business.” Those who don’t adapt are risking being left with a workforce that is both financially anxious and increasingly willing to look elsewhere; those who respond with tailored programs and credible advice are giving themselves the opportunity to be ahead of the curve. Find out more about what RBC Group Advantage offers businesses at rbc.com/groupadvantage

Disclaimer This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up to date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

Financial stress spilling into the workplace

Generational optimism meets structural challenges

Published Sep 29, 2025

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This disconnect creates risks for both employee financial well-being and employer productivity

The retirement disconnect: what the RBC Workplace Realities Poll found

of employers believe their employees are on track for retirement, yet only 46% of employees feel the same

75%

Employees want more than just a paycheque; they are looking for financial guidance

want group savings or pension programs

71%

want access to financial advisors, well-being resources, and advice events

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Why financial wellness is a strategic investment for growth

Sets up group savings programs that meet needs across each generation

Tailors financial advice and support to your employees − available in person or virtually

Provides self-serve educational opportunities and advice events for the financial needs of your employees

How RBC Group Advantage drives confidence through financial wellness

“It’s easier to believe anything is possible when you’re just starting out. The question is whether you’ll have the financial means to support whatever future goals you have in mind”

Kristin Dolynski, RBC Group Advantage

Helps you invest in financial wellness to drive stronger workforce engagement, higher retention, and reduced absenteeism

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"WHEN I received a book on financial wellness as a wedding gift from a family member, I didn’t know it would change the course of my life,” says Kristin Dolynski, vice president of RBC Group Advantage. The lessons inside − to start early, stay disciplined, and work toward long-term goals − stayed with her, eventually steering her toward a career helping Canadians plan for financial security. Today, her focus is on employers: how they can strengthen retirement readiness in the workplace, and why the issue is more urgent than ever. The RBC Workplace Realities Poll illustrates the challenge. It found a significant gap between how employers view retirement readiness and how employees see their own situation. Roughly half of employers believe their workforce is financially prepared, but employees report something very different. Many employees say that immediate financial pressures, such as rising costs for rent, mortgages, groceries, and debt, are making it difficult to build savings for the future. The mismatch has direct implications not just for households but for companies trying to attract and retain talent in a competitive labour market.