The Cost and Impact of Financial Stress in the Workplace

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Employers: Voluntary Employee Benefits Can Reduce Your Costs!

Every day, employees bring their financial stress to work.

  • 47% of employees report that they are stressed dealing with their financial situation.

It’s a distraction that reduces productivity and leads to turnover.

  • 43% of those who are distracted by their finances at work say they spend three hours or more at work each week thinking about dealing with these issues.
  • Millennials (67%) & Gen X (68%) are more likely to be attracted to another company that cares more about their financial well-being than Baby Boomers (50%).

As a result, employers are left spending time and money handling staffing issues.

  • Average time-to-fill a position was 36-days in 2016.
  • Average cost-per-hire in 2016 was $4,425.

There is a solution that benefits everyone: voluntary benefits give employees peace of mind and motivation to stay engages at the office.

  • 81% of employees say that they buy voluntary benefits because of the convenience of purchasing at work.
  • 80% of all employers recognize voluntary benefits and services as an important part of their employee value proposition.
  • 78% of workers say their employee benefits packages are as important as their salaries in keeping them at their current employers.

Want to learn more about changing lives and worksite benefits? Give us a call at (866) ENROLL-0 x109 or email