Supporting your employees to take control of their finances can help improve their wellbeing and productivity and reduce absenteeism.
Debt is a serious problem in Australia. We hold the world’s highest household debt relative to GDP at $2 trillion in unconsolidated debt, with a GDP of only $1.6 trillion.
Such a high level of debt is having a negative impact on our mental wellbeing. Close to 1 in 3 Australians suffer from significant financial stress1 which can lead to relationship conflict, isolation, sleep loss and symptoms of depression. If untreated, debt stress can increase absenteeism, where an employee is too stressed to work, and presenteeism, where an employee is at work but distracted. The combined cost of absenteeism and presenteeism to Australian workplaces each year is over $70 billion2.
Encourage your employees to speak to a financial planner. A planner can help them take control of their finances, reducing stress and enabling them to be more motivated and focussed at work.
A financial planner can help your employees:
Another excellent way to help your employees reduce financial stress is to encourage them to sort out their super.
There are five simple things they can do right now to get them on track for a more secure retirement.
EISS Super Customer Relationship Managers (CRM) can work with you to arrange workplace seminars or visits by Financial Planners that can help your employees get their finances on track.
1 Core Data/Financial Mindfulness, Financial Stress Survey 2017
2 Australian Industry Group, Absenteeism and Presenteeism Survey 2015
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