Financial issues affect more employees than smoking and obesity combined. While 20% of the US population smokes and 30% are obese, 70% (or more) of your employees may be concerned about their finances. Consider the following statistics reported by careerbuilder.com in a recent survey:

More than half of the US workforce lives paycheck to paycheck.
61% of workers say they usually or always live paycheck to paycheck.
Increased income does not necessarily solve the problem, as 30% of people with salaries over $100,000 also live paycheck to paycheck.

36% of workers do not put any money into a retirement savings plan.
33% of people don’t put any money aside for personal savings each month, and 30% save less than $100 each month.

When your employees show up for work, they bring their financial concerns with them.

An article in a 2005 Delta Pi Epsilon Journal noted the following problems when employees experienced personal financial stress:
Increased absenteeism
Frequent personal phone calls
Lack of ability to concentrate
Personal bankruptcies which may reflect badly on the company
A risk of fraud and/or theft.

The cost of the lost productivity related to financial anxiety can be staggering. Click here to see a worksheet that can help you estimate how much money your company is losing due to employees who are worried about their finances.

Want to help your employees be more productive? Contact Alison at 207-671-1491 to discuss on-site wellness programs. Financial wellness programs can also be customized for your unique situation.