PlanSponsor.com reports an overwhelming majority of Americans employed full-time—87%—feel stressed about their current finances, Purchasing Power learned in a poll of 952 adults, conducted by Harris Poll.
Asked what is causing this financial stress, U.S. employees said the No. 1 reason as household bills, cited by 47%, followed by the lack of funds to cover unexpected expenses (43%), retirement planning (37%), health care expenses (34%), carrying a high credit card balance (30%) and education (21%).
“Despite a healthy economy and rising stock market, employees are still stressed about their finances,” says Purchasing Power President Scott Rosenberg. “With employee stress affecting an organization’s bottom line in terms of productivity, higher absenteeism and more health care claims, employers are compelled to pay more attention to their employees’ financial well-being.”
Read Study reveals financial wellness needs of employees online.