The Cost of Financial Stress at Work [Infographic]

15 Jun 2016

Andy Meyer

Andy Meyer is an accomplished leader with over 20 years of senior management experience growing software and technology based companies. Companies have included Websense, Epicor, Cisco and multiple mobile startups. He has extensive experience in general management, marketing, sales, business development and public relations. His efforts have directly lead to exits including IPOs and has raised growth capital for multiple companies. He earned a bachelors degree in Mechanical Engineering from Georgia Tech and an MBA from the University of New Orleans.

A staggering 80 percent of American employees experience financial stress, and these financial troubles cast a wide shadow, often taking a costly toll on employers, as American businesses lose an overwhelming $300 billion per year due to stress.

Poor financial health stems from a lack of good financial habits and knowledge. Fifty-six percent of employees don’t maintain a budget, and Americans feel woefully underprepared to manage their finances. When asked to grade themselves in personal finance, 41 percent of people give themselves a C, D or F. The effects of stress seep into the workplace, costing employers over $800,000 per year due to decreased productivity, unscheduled absences and distractedness.

The good news is that employers can play a huge role in promoting financial wellness. The positive effects of investing in financial education add up to an average ROI of $450 per employee. Improving the financial stability of just one employee can save $5,000 per year. There’s really no question: financial literacy programs are good for your team and good for your bottom line.

Also on How Financial Stress Affects Productivity

Financial Stress

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