Helping Employees Reach Financial Security
Time spent focusing on personal finances is a common aspect of life. Since much of the time spent worrying about money takes place at work, this results in lost productivity for both the individual and employer. According to the most recent Inside Employees’ Minds research from Mercer, 4.5 percent of payroll dollars are wasted on employees spending time on the job worried about money.
In addition to cost, organizations that ignore this anxiety risk an increasingly disengaged workforce. More and more, workers not only worry about their current expenses, but are also having to accept greater responsibility for managing their own long-term savings—with the goal of an adequate retirement income—which adds to their stress. Clearly, employers have a stake in inspiring greater employee confidence on the road to financial security.