Purchasing Power recently conducted an informal survey of HR professionals to assess the impact that both COVID-19 and financial stress is having in their workforces. A second survey sought to identify the recommendations benefit brokers will be making to their clients to address the concerns. CRO Mike Wilbert shares insights gleaned from these responses in the latest isssue of California Broker Magazine.
Higher levels of employee stress (86%), reduced productivity (65%) and decreased morale (6%) are the three biggest ways financial stress affects a company,” says Wilbert. “Voluntary benefits can address the specific needs employees have as they continue to struggle with and overcome pandemic challenges.