How Employee Financial Stress Is Impacting Your Bottom Line
Many adults feel unprepared to handle unexpected expenses, save enough for retirement or even make ends meet. They often take on credit card debt, get loans with high interest rates, withdraw funds from retirement accounts or cash out investments to close the gap, which puts them in a worse position.
At the very least, they can’t contribute as much to their savings or retirement accounts as they would like. Money is a massive source of stress for people in this position. Management may not realize it, but these worries spill over into the workplace, impacting everything from retention to absenteeism. If they want to improve their bottom line, they must address this problem.