Insight into financial stress and wellbeing for employers.
Never have Australians faced such a financial crisis. Financial stress indicators are the highest they have ever been due to rising household debt, cost of living pressures, the cost of housing, and the consistently accelerating pace of life.
Partnering with McCrindle, The Financial Wellness Group gathered insights from over 1,209 working Australians to find that over two thirds of employees (69%) are financially stressed. What does this mean for business? Research shows that presenteeism and absenteeism caused by financial stress leads to $47.2 billion in lost revenue for Australian businesses each year.
For individual employees, financial stress manifests in symptoms such as depression, sleep loss, anxiety and poor concentration. Unsurprisingly, financially stressed individuals are less engaged at work, meaning a significant decline in job dedication, productivity, innovation, tenure, and efficiency as a result.
Download the whitepaper to learn...
The state of financial stress in Australia and the workplace
The impacts of financial stress, such as the $47.2 billion in lost revenue each year
Our research on employee attitudes and behaviour
The need for employers to instigate change
Key strategies that HR and People and Culture teams can implement immediately to affect change
Employee engagement is at the heart of moving individuals towards a financially well future, and employers have ample opportunity to design workplace benefits to affect financial motivation and wellness.