Employee Benefit News
Financial stress is nothing new, however, the current financial environment has only made matters worse. With inflation rates reaching a 40-year high, gas prices surpassing 2008's record and another year in a pandemic, employees are feeling the pressure. According to John Hancock's annual Stress, Finances and Wellness report, 71% of those surveyed stated that they experienced stress, depression and loneliness in the past year. 58% of which reported that finances are the cause of their stress. From wages and student loans to retirement and credit card debt, employees are having a hard time managing and it is impacting productivity. What can employers do to help their people with their finances and managing stress?