Financial Stress Could Cost Employers up to $250 Billion in Lost Wages
Employers could lose up to $250 billion in lost wages due to employees’ financial stresses, according to research from Mercer. The Inside Employee Minds Financial Wellness survey found workers spent about 150 hours annually of their time at work worrying about money. That could add up to $250 billion in lost wages a year, reports Mercer.
The survey also found employees who are offered a financial wellness program through their employer are twice as likely to report being very satisfied with their job and employer.
Employees reported they don’t want their employer to be directly involved with their personal finances, but would rather their employer provide financial advice sources.