QUBER WORKPLACE WELLNESS • JULY 2021 www.quber.ca • email@example.com VOLUME 1 • ISSUE 7 • THE EFFECTS OF FINANCIAL STRESS DID YOU KNOW? In 2020, 8 in 10 Canadians said 5 WAYS FINANCIAL STRESS at least one aspect of their IMPACTS YOUR BUSINESS finances causes them stress. FP Canada, 2020 There’s no way around it: if your employees are stressed about their finances, it’s going to negatively affect your Those who experience financial business’s bottom line. But, why is that the case? We’ve stress are twice as likely to got five reasons why it’s your best interest to help your report poor overall health and employees tackle their financial stress head-on. four times as likely to report issues like headaches, sleep 1. Reduces productivity problems and high blood Research shows that employees who are stressed about pressure. money are more likely to spend time at work focused on their financial issues instead of working, negatively FCAC, 2020 affecting their productivity. A 2017 report by PwC estimates that 30% of employees are stressed about 80% of employees want access money, and that an employee that’s concerned about their to financial planning workshops finances spends an average of 3 hours per week or financial wellness tools but distracted by their issues when they’re supposed to be only 20% of employers offer working. This can amount to a major amount of money ... these programs today. MetLife, 2020 Continue Reading FURTHER READING You're an employer who's looking to create a financial Special Report: Financial wellness program for your employees. Stress and the Bottom Line You may be wondering, A 2017 report by PwC what will ensure my program's success? https://cdn2.hubspot.net/hubfs/17 2936/pwc-financial-stress-and- A great place to start is to hear from your employees directly on what they need and want in a financial bottom-line.pdf wellness program. No two businesses are alike, and the Financial Wellness in the same goes for your staff. Understanding where they feel their greatest financial pain points are, where they could Workplace use more professional support and what would really A series of resources provided by engage them will help you design a program that's best the Financial Consumer Agency of suited for your team. Canada, 2021 https://www.canada.ca/en/financi One of the best ways to gather this information is to ask al-consumer- your employees to complete a financial wellness agency/services/financial- assessment. Though you shouldn't ask for specifics wellness-work.html about each employee's financial situation, asking them about general topics like their levels of financial stress Financial Wellness and their confidence with money management can help you determine where your dollars are going to be spent Programs Foster a Thriving most effectively. Workforce A 2019 report by MetLife To make things easy for you, we've created a financial https://www.metlife.com/employ wellness assessment you can use with your team. ee-benefit-trends/ebts-financial- Simply click the button below and we'll forward you a wellness-2019/ copy for free! 2021 Financial Stress Index Request my free assessment A 2021 study by FP Canada https://fpcanada.ca/docs/default- source/default-document- library/2021-financial-stress- For more information on how QUBER can facilitate a match-based index-survey-results.pdf saving program for your employees, send us an email at firstname.lastname@example.org.