71% of Canadian employees feel their mental health has affected their ability to work in the past year, according to a survey commissioned by Manulife Financial Corp. and conducted by Edelman DXI.
Four-fifths of employees are worried about their finances while working, and nearly a third said they worry often. Half of those who worry said they’d be more productive at work if they were less worried.
- Financial stress can cost employers 1,786 CAD per employee in lost productivity and absenteeism.
- 79% of respondents said financial wellness programs reduce their financial stress, make them more likely to stay with their employer (75%), and make them more productive (66%).
- Only 50% said their employer offers a financial wellness program, and 25% were unsure if they had one.
- Employees with a financial advisor reported having an easier time-saving money, being more likely to be on track to retire, and more likely to feel good about their mental health.
- 79% of Canadians felt the challenging economic backdrop had impacted their mental well-being, while 24% said it had had a significant impact.
