Many financially stressed employees confess to spending 3+ hours of their work week distracted by personal finances[1], that’s 156 hours per year. This means you could be losing up to $5,260 per employee![2]
So, what can employers do? Here are three ways employers can help employees manage financial stress: Offer financial wellness programsEncourage more savings with a company match Provide financial education
[1] PricewaterhouseCoopers LLP. “Employee Financial Wellness Survey” (2018): PWC. May 2018.
[2] Based on 2017, employer costs for employee compensation (ECEC) $33.725 per hour. Bureau of Labor Statistics.“Employer Costs for Employee Compensation- Dec.2017” www.bls.gov. March 20, 2018.