The cost of financial stress

Employee stress can cost businesses due to lost productivity, according to a new study. Employees who experienced financial stress last year reported an average of 15 hours of reduced productivity each week. The loss of productivity led to an estimated $4.7 billion loss per week for employers. Many employees took action to reduce their financial stress, including 56% of respondents who increased retirement savings contributions. Many employers offer financial wellness programs. Respondents also cited resources they would like from employers, such as financial education (82%), tools for investing (82%), and access to a financial professional (78%).

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