Money woes impact productivity
According to a survey conducted by the Society for Human Resources Management, worries over money are affecting both employee savings plans and worker productivity. Money worries create general stress, increase absenteeism, and cause morale issues – all leading to reduced productivity which costs companies and their employees in a big way.
In particular, employees are worried about a general inability to cover personal expenses – particularly medical expenses, credit card and mortgage debt, and education costs.
What can companies do? Providing financial education on a variety of topics and access to financial counseling is a great start.