Employees Feeling Financial Stress
Employees Feeling Financial Stress
 
 

Your employees are stressed, according to New York Life's 2014 Financial Stress and Retirement Readiness Report.

More than 73 percent of survey respondents reported feeling extreme or moderate stress.

In addition: 

  • Sixty percent said that the cause of stress was worry about possible financial difficulties.
  • Stress isn’t limited to lower-income earners, as more than one-quarter of respondents earning more than $100,000 reported
    feeling highly stressed.

  • Only half of those surveyed considered their financial situation to be good.
  • Women felt financial stress more than men, and are more likely to bring that stress with them to work.

All of this stress, in turn, can lead to adverse effects on employees’ health and productivity. The World Health Organization estimates the cost of stress to be $300 billion annually.

How can you help your employees de-stress and plan for their future? 

  • Ohio Deferred Compensation Field Account Executives can present seminars to help employees learn about the Program and its benefits. Field Account Executives can provide education on investing, personal finance, retirement issues and understanding personal investment options.
  • Program participants also have access to Retirement Planning Specialists who can meet one-on-one to help prepare for retirement.
  • Guide employees to our Tools and Calculators that provide information about sending children to college, budgeting a payroll deduction, and how much money is needed in retirement.