While many factors can affect employees’ stress levels and work performance, financial well-being is often the culprit.
The biennial 2017/18 Global Benefits Attitudes Survey revealed a large increase in the number of employees who say their financial woes are negatively affecting their lives and who are worried about their future financial situation. The consulting firm Willis Towers Watson found:
48% of respondents said they’d like their employers to offer tools that provide suggestions on how they can improve their financial situation
23% of Canadian respondents identified themselves as struggling financially
Among that group, 43% said worries about finances were preventing them from performing their best at work
72% of struggling employees also reported higher-than-average stress
Relationship Between Stress and Performance
Even before COVID, the connection between stress and performance was affecting the workplace.