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Disasters spotlight the importance of employee emergency funds

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T

he California wildfires spurred a sevenfold increase in inquiries from potential clients at Canary, a company Rachel Schneider founded in 2020. That’s not surprising. Canary creates and manages employer-sponsored relief funds that workers can tap for quick cash when facing an emergency. Health issues, car troubles, and, yes, natural disasters are among the reasons employees apply for help. However, the funds are not designed to cover the entire expense, but are instead meant to help with immediate needs, experts sa

id.“Even a small amount of money still makes a huge difference for the person who is in crisis because they are

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