24% of Employees are Financially Stressed
Research among Australian employees (rather than abroad population sample) report a similar picture. AMP’s research among 2,105 workers revealed that 24% were financially stressed. Reventure’s Workplace Wellbeing report revealed 31% of 1,005 employees were extremely or very stressed about their finances. These studies point to the growing severity of the financial stress crisis.
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.
*Based on AMP Workplace Survey
Financial stress impacts absenteeism & presenteeism
Using our own research on financial stress and engagement, we have developed a tool to assist companies to quantify the negative impact financial stress is having on your employees in Australia. Calculated using national averages of the percentage of the workforce that is in a state of financial
stress and impact it has on absenteeism and presenteeism.
Research shows financially stressed individuals take an extra 4 days of sick leave a year and loses 6.9 work hours a week in productivity*. This is not specific to a person’s job or demographic status and is proven to transcend class or economic background.
We have a diagnostic tool that can locate and quantify the financial impact employee financial stress is having on your business.
The Financial Wellness Group provides extensive experience & expertise in employee benefits strategy and the delivery of tailored programs for your business.
Our supporting services ensure your employee engagement strategy is efficiently managed, clearly communicated and delivered via a range of service mediums to ensure all employees have the opportunity to be educated & engaged with your evolving wellbeing and benefits programs
Our innovative approach to supporting your wellbeing & benefits offers aims to deliver a tailored program of engagement by simply better understanding your people.
From diagnosing the financial personalities or your employees, to educating via interactive and personalised workshops, right through to our day one approach to onboarding we work with you to ensure employees are taken on a personal wellness & employer focussed engagement journey