Workplace Productivity

How Financial Wellness Impacts Workplace Productivity?

• Increases Employee Safety
• Boosts Employee Morale
• Decreases Healthcare Costs
• Reduces Absenteeism
• Improves Employee Retention

Consider this study from the McKinsey Global Institute: more than a third of U.S. employees are stressed about their finances. 

A recent Morgan Stanley Study states that 78% of employees who are experiencing high financial stress admit they are distracted by it at work.

One of our recent surveys revealed that almost 90% of employees suffer from at least one financial problem and 40% of them reported work as a significant source of stress in their lives. 

Millennials and Baby Boomers are worried about their financial futures, and with good reason. These financial worries can take a toll on an employee’s well-being, relationships, quality of life and productivity.

The stress increases when working in dangerous conditions is a serious trade hazard. This is most obvious on high-rise construction sites where the death of every worker matters. But danger exists in other industries too. 

When individuals are faced with persistent financial stress, it can have damaging effects on their mental and physical health. 

Financial stress is linked to job dissatisfaction, depression, anxiety and burnout. Financial stress in the workplace can seriously impact productivity and result in employee turnover. 

If your employees are stressed, they are not going to stay with you for long. They will not give their best efforts and you will not get the best results.

• What better time to fix what’s stressing your employees than at work?
• What if it was possible to stop employee injuries before they happened?
• Rather than causing stress at home, what if you could help fix it at work?

Encouraging employees to be more financially well is a challenge, especially when employees are already overworked. However it is well worth the effort, financial stress can take a serious toll on productivity - up to 5% according to Harvard Business Review!

Financial wellness programs are a simple, easy way to get your employees involved in building a better workplace and they save employers millions! Financial health is one of the most important aspects of company culture in small companies and as well as those with more than 200 employees.