47% of your staff are not sleeping at night due to money stress. These employees spend at least 3 hours per week at work, not working but trying to fix their finances. Their physical and mental health is suffering and so is their productivity. They are more likely to resign to cash in their provident fund—thinking using that money to settle debt will help when it will not.
Effects on Employees
43% of financially stressed employees spend 3+ hours per week at work dealing with personal finances.
55% are worrying about money daily or weekly.
Only 26% of people are still worrying about money at work.
Employees with high financial stress are twice as likely to report poor health overall
People with debt are three times more likely to have a mental health issue.
77% of people find managing their money stressful or challenging.
80% of people now describe managing money as something they have under control.
41% of South Africans are unhappy with their financial situation.
65% of people run out of money before the near next pay day.
86% of people now spend less than they earn every month.
25% of employees report that issues with personal finances have been a distraction at work.
76% of South Africans will work their whole lives and end up broke.
62% of people can’t afford a R5,000 emergency without using credit.
67% of people can now afford a R5,000 emergency without using credit.
End the cycle
Investing in your employee’s understanding of personal finances helps them improve their personal lives, translating into engaged, fully-present and positive employees, creating a better working environment for everyone.