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August 09, 2021

Employees fret about personal finances during work hours: report

In the same way many people can't leave work problems at the office, there are those who struggle to park their personal issues at home.

Workers dealing with personal problems often find their minds wandering, and don’t do their best work. And money issues seem to be at the top of that list of stressers.

Forty-four per cent of full-time employees worry about personal finances during work hours, according to research from Purchasing Power, an American provider of supplementary workplace benefits. And that exacts a big toll on both their health and productivity. 

"Stress over money takes both a mental and physical toll on workers, impacting health-related costs and reducing productivity by a significant number," says Richard Carrano, CEO of Purchasing Power. "Employees' financial problems become the employer's problems as well."


Their top cash flow concerns include insufficient emergency savings (49 per cent), delayed retirement (45 per cent) and not being able to meet monthly expenses (22 per cent).

Almost 30 per cent of employees spend time dealing with their financial issues at work — and, of those, 46 per cent devote as much as two to three hours per week, on average, to that task.

Does that sound like someone you know?

Do you have trouble separating your work and personal affairs? Do money issues haunt you when you're on the job?

By Gordon Powers, MSN Money




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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...