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Addressing the root issues of financial illiteracy

Financial illiteracy

According to this Employee Benefit Advisor article, there are two root issues that should be held in high priority by employers: stressed caused by employee personal finances, and the employer's bottom line. if the first issue of stressful personal finance problems of employees is adequately addressed, then the second issue concerning the bottom line of the company will be positively impacted.

It is easy to see how stress from personal finance issues can impact business when nearly 50% of the American workforce is adversely affected. Such stress takes a mental as well as a physical toll on employees, which directly affects both productivity and healthcare costs. Personal problems resulting from financial difficulties can therefore be considered the employer’s problem as well. When employers play an active role in producing financial wellness in their workforce, employees experience financial relief, and their stress is lessened while on the job.

Read Addressing the root of financial illiteracy online.