Financial Stress: The #1 contributor to $300 billion lost in employee productivity per year

Stress-related illnesses cost businesses up to $300 billion a year in lost productivity,1 and four out of five employees acknowledge some degree of financial stress.2  Imagine the billions employers could save if they changed employee financial stress to employee financial well-being.
By MSA Staff


Stress-related illnesses cost businesses up to $300 billion a year in lost productivity,1 and four out of five employees acknowledge some degree of financial stress.2  Imagine the billions employers could save if they changed employee financial stress to employee financial well-being.

The negative effects of poor finances and financial stress:

  • 97% of employees concede to working on or thinking about personal finances during their work day.2
  • 60% of employees said they have lower productivity at work because of stress.1
  • 58% of employers see financial “illness” as a prevalent part of employee absenteeism, and 78% say employee productivity is negatively affected by financial concerns.3

Financial stress keeps Americans from focusing on the job.  It’s causing low levels of productivity, and it’s costing employers.

Positive effects of a financial wellness program:

  • Employers who offer financial wellness programs see an average $348 reduction in operating costs per sick day, per employee.2
  • 72% of employees experience decreased financial stress after enrolling in their employer-based financial wellness program.2
  • Employers state that overall financial wellness for their employees produce higher levels of satisfaction (76%), loyalty (66%), engagement (65%), and productivity (55%).3

The bottom line is that employee financial stress is a problem in the workplace, and fixing it could mean saving your company a significant amount of money each year.  Now is the time to implement a financial wellness program that will turn financial stress into financial gain.

The MSA Financial Wellness program focuses on improving and maintaining financial wellness, and general well-being, through the multifaceted approach of one-on-one money coaching, financial education, web-based learning and self-help tools, and on-going support through virtually any financial challenge or goal.  MSA Money Coaches are staffed, salaried professionals with close to two decades of collective experience. With a Money Coach’s trustworthy knowledge and compassionate assistance, employees gain the direction and accountability they need in order to improve their lives.

Positive effects of the MSA Financial Wellness program:

  • 60% improvement in employee financial well-being
  • Average employee creates $250 in savings in just 90 days of working with a Money Coach
  • Average employee works with a coach for 272 days
  • 5-20% utilization of the program during the first year

For more information on how you can eliminate financial stress in the workplace and boost your employees’ productivity with the MSA Financial Wellness program, contact MSA today.

1Stress in the Workplace: Meeting the Challenge.  Health Advocate.  PDF.

2Financial Wellness Landscape Analysis: An Overview of the Need for Workplace-Based Financial Wellness Programs.  ING Employee Benefits, 2013.  PDF.

3“MetLife White Paper Finds Employee Financial Wellness a Growing Global Concern for Employers.”  2011 Press Releases.  New York: MetLife, 6 Dec. 2011.  Web.  15 Jul. 2013.

4“Financial Literacy Begins at the Office.”  PFEEF Newsletter.  19 Dec. 2013.  Email.

Facebook ShareTweetReddit shareLinkedIn shareEmail share

More Like This

Outcomes

Member Success Story: Lowering Expenses and Stress

For years, it’s been proven that financial problems play a key role in stress levels.1  Colleen certainly knew it was true, as she carried $72k in debt and went $2,100 over her budget every single month.  Needing serious relief, Colleen started working with the MSA Financial Wellness program, and the results were phenomenal. When Colleen […]

Behavior Change

What do employee retention rates have to do with financial wellness?

Employers who are seeking to improve retention rates need to consider some of the problems causing employee turnover, and money issues are high on the list. When employees struggle with finances, they have trouble focusing at work.  When employees can’t focus, they lose patience, and so do their employers, but employers can break that cycle […]

401(k) & Financial Planning

My Secure Advantage™ as seen on Worldwide Business with kathy ireland®

  Roseville, CA – November 19, 2018 — Brad Barron, founder and CEO of My Secure Advantage, provided an exclusive look at the MSA Financial Wellness program in his interview with Worldwide Business with kathy ireland®, which recently aired on Fox Business Network as sponsored content. Finances continue to be one of the leading […]

401(k) & Financial Planning

Member Success Story: Turn Bad Habits Into Best Behaviors

Like many Americans, Ariel was living paycheck to paycheck, and she found it harder when transitioning to a single income.  With a broken relationship, student loans, surgery, and the end of a lease, the emotional distress certainly wasn’t helping.  Luckily, Ariel found hope and support through the MSA Financial Wellness program, so she could transform […]

Have any questions, concerns or need help?
Give us a call Monday through Friday, 6am - 8pm Pacific Time

Main Line 888-724-2326

My Secure Advantage

3001 Lava Ridge Court, Suite 250

Roseville, CA 95661



Copyright 2020 My Secure Advantage