Employees Dissatisfied With Financial Situation

Pension and Benefit Monitor Magazine – More than 60 per cent of employees are dissatisfied with their personal financial situation, with one in four feeling financially distressed. And this, says the ‘Financial Education in the Workplace Survey’ from the Employee Financial Education Division(EFED), leads to reduced productivity as these employees are spending an hour each day at work dealing with personal finances. “Employers need to be concerned with the financial wellness of their employees as it directly impacts the productivity and profitability of the company,” said Frank Wiginton, CEO of EFED, speaking at the Human Resources Professionals Association Conference in Toronto. With 87 per cent of employees wanting financial education, “not just information.” it shows this “proves to be an important and effective benefit for employees. By including financial topics beyond pensions and retirement employees will be able to have greater understanding and context around their finances,” he said. Read article here.



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