Session: Employer Benefits and the Financial Wellbeing of Workers during COVID-19 (Society for Social Work and Research 27th Annual Conference - Social Work Science and Complex Problems: Battling Inequities + Building Solutions)

All in-person and virtual presentations are in Mountain Standard Time Zone (MST).

SSWR 2023 Poster Gallery: as a registered in-person and virtual attendee, you have access to the virtual Poster Gallery which includes only the posters that elected to present virtually. The rest of the posters are presented in-person in the Poster/Exhibit Hall located in Phoenix A/B, 3rd floor. The access to the Poster Gallery will be available via the virtual conference platform the week of January 9. You will receive an email with instructions how to access the virtual conference platform.

335 Employer Benefits and the Financial Wellbeing of Workers during COVID-19

Schedule:
Sunday, January 15, 2023: 11:30 AM-1:00 PM
Alhambra, 2nd Level (Sheraton Phoenix Downtown)
Cluster: Work and Work-Life Policies and Programs
Symposium Organizer:
Mathieu Despard, PhD, University of North Carolina at Greensboro
Employer benefits comprise 31% of total employee compensation and play an important, albeit largely unexamined, role in promoting the financial wellbeing of workers and their families. During the COVID-19 pandemic, the "Great Resignation" has seen record numbers of workers leave their jobs and employers scrambling to figure out how to retain workers. In healthcare alone, nearly a fifth of workers have left their jobs. The vulnerability of essential workers and the need to improve benefits such as making paid leave mandatory has come to light during the pandemic. We examine access to benefits and workers' financial wellbeing during the COVID-19 pandemic.

The first paper, Paid Leave Policy and Shocks to Financial Strains during COVID-19 uses longitudinal data from a nationally representative survey of U.S. households (N=5,500) to examine the effects of health, employment, and caregiving disruptions during the COVID-19 pandemic on financial strain as moderated by access to paid sick and/or family leave employer benefits. Families experiencing one or more disruptions early in the pandemic had greater financial strain several months later, yet access to paid leave decreased this risk dramatically.

The second paper, COVID-19 Related Job Loss and Early Withdrawals from Retirement Accounts: Mediation by Financial Hardships and Subjective Financial Well-being found that propensity score-adjusted pandemic job loss among a nationally representative sample of U.S. households (N=4,765) predicted retirement plan withdrawals as partially mediated by financial hardships and subjective financial well-being. However, financial literacy did not moderate these relationships.

The third paper, Financial Help for Hotel Workers during the COVID-19 Pandemic: Timing is Everything describes a pandemic emergency financial assistance program for hotel workers in New Orleans. Workers' food insecurity and problems paying bills dropped significantly after receiving assistance. Despite having similar jobs, Black workers had significantly higher pre-assistance food insecurity and bill problems and experienced significantly greater post-assistance reductions in these difficulties.

The fourth paper, Benefits and Financial Wellbeing Among Frontline Healthcare Workers, examines access to and use of an array of workplace benefits among a sample of 2,321 frontline healthcare workers and how benefits relate to workers' financial wellbeing. The study finds that workers in facility-based settings like hospitals and those with a college degree had much greater access to benefits compared to workers in home health and private duty settings and workers without a college degree. Benefits access is important as it predicts lower rates of several types of financial hardship.

Together, these four papers illustrate just how important workplace benefits are to the financial wellbeing of workers and their families as a matter of economic justice and racial equity - a topic largely unexplored in prior research. Generating evidence about the importance of workplace benefits is critical for influencing policy discourse around improving pay, benefits, and work conditions - particularly among Black workers, addressing workforce shortages such as in healthcare, and considering an expanded public social safety net to fulfill needs left unmet by the labor market.

* noted as presenting author
Paid Leave Policy and Shocks to Financial Strains during COVID-19
David Rothwell, Oregon State University; Laura Brugger, PhD, Washington University in Saint Louis; Sophia Fox-Dichter, MSW, Washington University in Saint Louis
COVID-19 Related Job Loss and Early Withdrawals from Retirement Accounts: Mediation By Financial Hardships and Subjective Financial Wellbeing
Haotian Zheng, MSW, Washington University in Saint Louis; Mathieu Despard, PhD, University of North Carolina at Greensboro; Stephen Roll, PhD, Washington University in Saint Louis; Michal Grinstein-Weiss, PhD, Washington University in Saint Louis
Financial Help for Hotel Workers during the COVID-19 Pandemic: Timing Is Everything
Katherine Kristensen, MSW, Washington University in Saint Louis; Selina Miller, MSW, Washington University in Saint Louis; Mathieu Despard, PhD, University of North Carolina at Greensboro; Amanda Utevsky, PhD, Duke University
Benefits and Financial Security Among Frontline Healthcare Workers
Mathieu Despard, PhD, University of North Carolina at Greensboro; Haotian Zheng, MSW, Washington University in Saint Louis; Sophia Fox-Dichter, MSW, Washington University in Saint Louis; Kourtney Gilbert, MSW, Washington University in Saint Louis
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